UBS Group assumed coverage on shares of Avery Dennison (NYSE:AVY) in a research report report published on Thursday, January 18th, 247wallst.com reports. The brokerage issued a buy rating and a $135.00 price target on the industrial products company’s stock.
Several other research firms have also recently commented on AVY. Zacks Investment Research upgraded Avery Dennison from a hold rating to a buy rating and set a $132.00 price target for the company in a research note on Monday, January 8th. Barclays upped their price objective on Avery Dennison from $105.00 to $120.00 and gave the stock an overweight rating in a report on Monday, October 30th. KeyCorp reaffirmed a hold rating on shares of Avery Dennison in a report on Monday, October 30th. Robert W. Baird reissued a buy rating and issued a $115.00 target price on shares of Avery Dennison in a report on Friday, October 27th. Finally, Loop Capital upped their target price on Avery Dennison from $99.00 to $106.00 and gave the company a hold rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $120.25.
Shares of Avery Dennison (NYSE:AVY) traded up $0.69 during trading on Thursday, hitting $111.46. The stock had a trading volume of 982,169 shares, compared to its average volume of 684,158. Avery Dennison has a 1-year low of $78.47 and a 1-year high of $123.67. The firm has a market capitalization of $9,810.00, a P/E ratio of 35.61, a PEG ratio of 2.71 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. analysts forecast that Avery Dennison will post 5.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.61%. Avery Dennison’s payout ratio is currently 57.51%.
In other Avery Dennison news, Director Julia A. Stewart sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total transaction of $433,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori J. Bondar sold 10,855 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $110.88, for a total value of $1,203,602.40. Following the sale, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,855 shares of company stock worth $1,866,802. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. APG Asset Management N.V. raised its stake in shares of Avery Dennison by 125.4% in the 4th quarter. APG Asset Management N.V. now owns 1,145,053 shares of the industrial products company’s stock worth $109,528,000 after buying an additional 637,000 shares in the last quarter. KAMES CAPITAL plc bought a new stake in shares of Avery Dennison in the 4th quarter worth $71,586,000. State of Tennessee Treasury Department raised its stake in shares of Avery Dennison by 265.7% in the 3rd quarter. State of Tennessee Treasury Department now owns 490,850 shares of the industrial products company’s stock worth $48,270,000 after buying an additional 356,628 shares in the last quarter. Atlantic Trust Group LLC grew its holdings in shares of Avery Dennison by 3,229.7% in the 3rd quarter. Atlantic Trust Group LLC now owns 357,606 shares of the industrial products company’s stock worth $35,167,000 after acquiring an additional 346,866 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Avery Dennison by 24.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock worth $136,247,000 after acquiring an additional 233,134 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.
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Avery Dennison Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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