J P Morgan Chase & Co Downgrades Avery Dennison Corporation (AVY) to Neutral

Avery Dennison Corporation (NYSE:AVY) was downgraded by equities researchers at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, October 26th, Marketbeat.com reports.

A number of other analysts have also recently commented on AVY. BidaskClub upgraded Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Citigroup Inc. boosted their price target on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Robert W. Baird reissued a “buy” rating and set a $100.00 price target on shares of Avery Dennison Corporation in a report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a report on Friday, September 22nd. Finally, Zacks Investment Research lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $105.71.

Shares of Avery Dennison Corporation (AVY) opened at $105.19 on Thursday. The firm has a market capitalization of $9,260.51, a P/E ratio of 22.52, a PEG ratio of 3.05 and a beta of 1.22. Avery Dennison Corporation has a 1 year low of $68.93 and a 1 year high of $108.99. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. equities research analysts anticipate that Avery Dennison Corporation will post 4.93 earnings per share for the current year.

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In other news, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the director now owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 298 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $94.00, for a total value of $28,012.00. Following the completion of the sale, the director now directly owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,047 shares of company stock worth $14,824,481. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. National Asset Management Inc. raised its stake in Avery Dennison Corporation by 0.3% in the 2nd quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 12 shares during the last quarter. Veritable L.P. raised its stake in Avery Dennison Corporation by 0.6% in the 2nd quarter. Veritable L.P. now owns 2,777 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 16 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Avery Dennison Corporation by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 5,327 shares of the industrial products company’s stock valued at $470,000 after buying an additional 28 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Avery Dennison Corporation by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 8,592 shares of the industrial products company’s stock valued at $759,000 after buying an additional 39 shares during the last quarter. Finally, Spectrum Management Group Inc. raised its stake in shares of Avery Dennison Corporation by 0.8% during the 2nd quarter. Spectrum Management Group Inc. now owns 5,030 shares of the industrial products company’s stock valued at $445,000 after buying an additional 40 shares during the last quarter. Institutional investors own 86.56% of the company’s stock.

Avery Dennison Corporation 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).

Analyst Recommendations for Avery Dennison Corporation (NYSE:AVY)

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