Barclays Lowers Avery Dennison (NYSE:AVY) Price Target to $245.00

Avery Dennison (NYSE:AVY) had its price objective cut by Barclays from $250.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other brokerages have also recently commented on AVY. BMO Capital Markets dropped their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Stock Down 0.4 %

Shares of AVY opened at $207.03 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The business’s 50 day simple moving average is $216.17 and its 200-day simple moving average is $218.22. Avery Dennison has a one year low of $171.04 and a one year high of $233.48. The company has a market capitalization of $16.67 billion, a P/E ratio of 24.85, a PEG ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the company posted $2.10 EPS. Avery Dennison’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Avery Dennison will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is presently 42.26%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,108 shares of company stock valued at $10,407,587. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new position in Avery Dennison in the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC bought a new position in Avery Dennison in the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison during the second quarter worth approximately $51,000. Raleigh Capital Management Inc. increased its holdings in shares of Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 238 shares during the period. Finally, Palisade Asset Management LLC bought a new position in shares of Avery Dennison during the first quarter worth approximately $64,000. 94.17% of the stock is owned by institutional investors.

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.