Avery Dennison (NYSE:AVY) PT Raised to $253.00 at Truist Financial

Avery Dennison (NYSE:AVY) had its price target increased by stock analysts at Truist Financial from $248.00 to $253.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 15.58% from the company’s previous close.

AVY has been the subject of several other reports. UBS Group lifted their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Citigroup increased their price objective on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Robert W. Baird increased their price objective on Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. Finally, Raymond James restated an “outperform” rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Avery Dennison Stock Up 0.8 %

NYSE:AVY traded up $1.73 during trading hours on Friday, hitting $218.89. The stock had a trading volume of 163,770 shares, compared to its average volume of 440,543. The business has a 50 day simple moving average of $215.51 and a two-hundred day simple moving average of $200.13. Avery Dennison has a 1-year low of $158.93 and a 1-year high of $225.26. The company has a market cap of $17.63 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $1.65 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. Analysts predict that Avery Dennison will post 9.26 EPS for the current year.

Insider Activity

In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the transaction, the senior vice president now owns 6,102 shares in the company, valued at $1,305,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 over the last 90 days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Avery Dennison in the third quarter valued at about $32,000. Milestone Investment Advisors LLC acquired a new position in shares of Avery Dennison during the 3rd quarter worth about $36,000. Anchor Investment Management LLC acquired a new position in shares of Avery Dennison in the 4th quarter valued at approximately $42,000. VisionPoint Advisory Group LLC bought a new stake in Avery Dennison in the 4th quarter valued at approximately $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.