Avery Dennison (AVY) PT Lowered to $125.00 at Citigroup

Avery Dennison (NYSE:AVY) had its target price trimmed by Citigroup from $140.00 to $125.00 in a research report report published on Thursday morning. The firm currently has a buy rating on the industrial products company’s stock.

AVY has been the subject of several other reports. JPMorgan Chase downgraded Avery Dennison from a neutral rating to an underweight rating and dropped their price objective for the stock from $113.00 to $107.00 in a research report on Friday, March 16th. Zacks Investment Research upgraded Avery Dennison from a hold rating to a buy rating and set a $132.00 price objective for the company in a research report on Monday, January 8th. Bank of America upped their price objective on Avery Dennison from $128.00 to $133.00 and gave the stock a buy rating in a research report on Thursday, February 1st. BMO Capital Markets started coverage on Avery Dennison in a research report on Tuesday, March 27th. They set a market perform rating and a $120.00 price objective for the company. Finally, Barclays upped their price objective on Avery Dennison from $135.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Avery Dennison currently has an average rating of Buy and an average price target of $123.67.

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NYSE:AVY opened at $103.20 on Thursday. 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 fifty-two week low of $79.13 and a fifty-two week high of $123.67. The firm has a market cap of $9,326.50, a PE ratio of 20.64, a P/E/G ratio of 2.58 and a beta of 1.25.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, topping the 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 business 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 earned $0.99 EPS. Avery Dennison’s revenue for the quarter was up 11.9% on a year-over-year basis. research analysts expect that Avery Dennison will post 5.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.74%. Avery Dennison’s dividend payout ratio is presently 36.00%.

In other Avery Dennison news, Director Dean A. Scarborough sold 10,000 shares of the stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $104.37, for a total value of $1,043,700.00. Following the completion of the transaction, the director now directly owns 106,953 shares in the company, valued at $11,162,684.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan C. Miller sold 3,131 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $120.33, for a total value of $376,753.23. Following the completion of the transaction, the vice president now owns 29,257 shares of the company’s stock, valued at $3,520,494.81. The disclosure for this sale can be found here. Insiders sold 166,409 shares of company stock valued at $18,288,509 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC raised its position in Avery Dennison by 77.6% in the third quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,384,000 after purchasing an additional 19,479 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Avery Dennison by 24.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock valued at $136,247,000 after buying an additional 233,134 shares during the period. American International Group Inc. increased its stake in shares of Avery Dennison by 10.6% in the fourth quarter. American International Group Inc. now owns 33,194 shares of the industrial products company’s stock valued at $3,813,000 after buying an additional 3,172 shares during the period. Premia Global Advisors LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $252,000. Finally, KAMES CAPITAL plc acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $71,586,000. Hedge funds and other institutional investors own 85.95% of the company’s stock.

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Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

Analyst Recommendations for Avery Dennison (NYSE:AVY)

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