Avery Dennison Co. (NYSE:AVY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Avery Dennison Co. (NYSE:AVY) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $239.96.

A number of brokerages recently commented on AVY. BMO Capital Markets lowered their price objective on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird boosted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Stifel Nicolaus began coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective on the stock. Citigroup lifted their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the company from $262.00 to $235.00 in a research report on Thursday, July 25th.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in Avery Dennison in the second quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison in the second quarter valued at $42,000. 1620 Investment Advisors Inc. acquired a new position in Avery Dennison during the second quarter worth $51,000. Palisade Asset Management LLC bought a new stake in Avery Dennison during the first quarter worth $64,000. Finally, Versant Capital Management Inc lifted its stake in Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 281 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.1 %

Shares of NYSE AVY opened at $218.44 on Friday. Avery Dennison has a 1-year low of $165.21 and a 1-year high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $215.60 and a two-hundred day moving average of $218.77. The company has a market cap of $17.60 billion, a PE ratio of 31.89, a P/E/G ratio of 1.79 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 EPS. As a group, equities analysts expect that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Avery Dennison Company Profile

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.