Avery Dennison (AVY) Upgraded at ValuEngine

ValuEngine upgraded shares of Avery Dennison (NYSE:AVY) from a sell rating to a hold rating in a report released on Wednesday.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research downgraded Avery Dennison from a hold rating to a sell rating in a report on Wednesday, November 28th. UBS Group set a $135.00 target price on Avery Dennison and gave the stock a buy rating in a report on Tuesday, November 20th. Barclays reduced their target price on Avery Dennison from $135.00 to $130.00 and set an overweight rating on the stock in a report on Monday, October 29th. BMO Capital Markets set a $98.00 target price on Avery Dennison and gave the stock a hold rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Finally, Citigroup reduced their target price on Avery Dennison from $128.00 to $122.00 and set a buy rating on the stock in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $120.25.

Shares of NYSE AVY opened at $91.97 on Wednesday. Avery Dennison has a fifty-two week low of $86.06 and a fifty-two week high of $123.67. The company has a quick ratio of 0.71, a current ratio of 1.00 and a debt-to-equity ratio of 1.24. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.02). Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $1.26 EPS. Avery Dennison’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts expect that Avery Dennison will post 6.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s dividend payout ratio is presently 41.60%.

In other Avery Dennison news, Director David E. I. Pyott sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total transaction of $186,000.00. Following the transaction, the director now owns 17,293 shares of the company’s stock, valued at approximately $1,608,249. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AVY. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Avery Dennison by 3.8% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,435 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 460 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Avery Dennison by 17.5% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,409 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 508 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Avery Dennison by 3.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 17,609 shares of the industrial products company’s stock worth $1,798,000 after purchasing an additional 511 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Avery Dennison by 14.9% in the 3rd quarter. Pacer Advisors Inc. now owns 4,592 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 596 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Avery Dennison by 16.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 5,265 shares of the industrial products company’s stock worth $570,000 after purchasing an additional 727 shares during the last quarter. 83.98% of the stock is currently owned by institutional investors.

About Avery Dennison

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.

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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