Avery Dennison (NYSE:AVY) Given New $207.00 Price Target at UBS Group

Avery Dennison (NYSE:AVY) had its price objective lowered by UBS Group from $235.00 to $207.00 in a report published on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other brokerages also recently weighed in on AVY. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial decreased their price objective on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays reduced their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Citigroup dropped their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $235.05.

Avery Dennison Trading Down 1.5 %

Shares of AVY opened at $184.83 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The firm has a 50 day moving average price of $196.62 and a 200-day moving average price of $208.76. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share. As a group, equities research analysts forecast that Avery Dennison will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.88 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.90%. Avery Dennison’s payout ratio is 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Avery Dennison

Hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC boosted its holdings in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 50 shares in the last quarter. Empirical Finance LLC grew its position in Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after purchasing an additional 55 shares during the last quarter. Procyon Advisors LLC increased its stake in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares in the last quarter. Lindenwold Advisors INC lifted its stake in shares of Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares in the last quarter. Finally, Cynosure Group LLC grew its holdings in shares of Avery Dennison by 3.6% during the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after buying an additional 59 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

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.