Zacks Investment Research upgraded shares of Avery Dennison (NYSE:AVY) from a hold rating to a buy rating in a research report released on Monday, February 5th. The firm currently has $132.00 target price on the industrial products company’s stock.
According to Zacks, “Avery Dennison's top and bottom line witnessed year-over-year improvement and beat the respective Zacks Consensus Estimate. The company guided earnings per share range of $5.70-$5.95 for fiscal 2018. The midpoint of the range reflects year-over-year growth of 17%. The company expects organic sales growth of 4% for the fiscal 2018. Roughly half of its sales are now linked to either any or both of its presence in emerging markets and in faster-growing high-value categories such as specialty labels, industrial tapes and Radio-frequency identification (RFID). Above-average growth is projected from both over the longer term. Focus on productivity, acquisitions, aggressive cost control and share repurchases will drive the company's results. Moreover, its consistent execution of strategies continues to enhance competitive advantage while driving profitable growth. Avery Dennison's shares have outperformed the industry over a year's time.”
AVY has been the topic of a number of other reports. KeyCorp reissued a hold rating on shares of Avery Dennison in a report on Monday, October 30th. UBS Group began coverage on Avery Dennison in a report on Thursday, January 18th. They set a buy rating and a $135.00 target price on the stock. Bank of America raised their price objective on Avery Dennison from $128.00 to $133.00 and gave the company a buy rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered Avery Dennison from an overweight rating to a neutral rating in a report on Thursday, October 26th. Finally, Loop Capital raised their price objective on Avery Dennison from $99.00 to $106.00 and gave the company a hold rating in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Avery Dennison currently has an average rating of Buy and an average target price of $122.75.
Shares of Avery Dennison (NYSE AVY) opened at $118.12 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Avery Dennison has a 12 month low of $78.47 and a 12 month high of $123.67. The company has a market capitalization of $10,400.00, a PE ratio of 37.74, a price-to-earnings-growth ratio of 2.84 and a beta of 1.20.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.08. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. equities research analysts predict that Avery Dennison will post 5.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.52%. Avery Dennison’s dividend payout ratio (DPR) is 57.51%.
In other news, Director Peter K. Barker sold 2,000 shares of Avery Dennison stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the sale, the director now directly owns 26,703 shares of the company’s stock, valued at $3,064,436.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lori J. Bondar sold 10,855 shares of Avery Dennison stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. West Oak Capital LLC lifted its holdings in Avery Dennison by 114.3% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after buying an additional 800 shares during the last quarter. Focused Wealth Management Inc purchased a new stake in shares of Avery Dennison in the 4th quarter valued at about $184,000. Conning Inc. purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at about $200,000. Davidson & Garrard Inc. purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at about $202,000. Finally, Univest Corp of Pennsylvania purchased a new stake in shares of Avery Dennison in the 4th quarter valued at about $205,000. 85.62% of the stock is owned by institutional investors.
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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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