Avery Dennison Co. (NYSE:AVY) Receives $229.73 Consensus Target Price from Analysts

Shares of Avery Dennison Co. (NYSE:AVY) have been given a consensus recommendation of “Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $229.73.

AVY has been the topic of a number of analyst reports. Raymond James initiated coverage on shares of Avery Dennison in a research note on Tuesday, November 23rd. They set an “outperform” rating and a $240.00 price objective on the stock. UBS Group increased their price objective on shares of Avery Dennison from $232.00 to $234.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 4th.

In related news, VP Deena Baker-Nel sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $217.00, for a total transaction of $303,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bradley A. Alford sold 6,318 shares of Avery Dennison stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $225.58, for a total transaction of $1,425,214.44. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management raised its holdings in Avery Dennison by 64.0% during the 3rd quarter. Spire Wealth Management now owns 123 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. MCF Advisors LLC bought a new position in Avery Dennison during the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Avery Dennison during the 3rd quarter worth approximately $48,000. GeoWealth Management LLC bought a new position in Avery Dennison during the 2nd quarter worth approximately $56,000. Finally, CX Institutional raised its holdings in Avery Dennison by 42.9% during the 3rd quarter. CX Institutional now owns 300 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

NYSE:AVY opened at $209.08 on Wednesday. The firm has a market cap of $17.31 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 3.12 and a beta of 1.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.73 and a current ratio of 1.06. Avery Dennison has a 52 week low of $147.40 and a 52 week high of $229.24. The firm’s 50-day simple moving average is $214.19 and its 200 day simple moving average is $214.10.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, October 26th. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2 billion. Avery Dennison had a net margin of 9.12% and a return on equity of 46.22%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 earnings per share. Sell-side analysts anticipate that Avery Dennison will post 8.94 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were paid a $0.68 dividend. The ex-dividend date was Tuesday, November 30th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.30%. Avery Dennison’s payout ratio is currently 30.46%.

Avery Dennison Company Profile

Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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