JPMorgan Chase & Co. upgraded shares of Avery Dennison (NYSE:AVY) from an underweight rating to a neutral rating in a report issued on Monday morning, Marketbeat reports.
Other research analysts have also recently issued reports about the company. UBS Group assumed coverage on Avery Dennison in a research report on Thursday, January 18th. They set a buy rating and a $135.00 price target for the company. Zacks Investment Research cut Avery Dennison from a buy rating to a hold rating in a research report on Tuesday, February 6th. Barclays raised their price objective on Avery Dennison from $105.00 to $120.00 and gave the company an overweight rating in a research report on Monday, October 30th. Robert W. Baird reaffirmed a buy rating and issued a $115.00 price objective on shares of Avery Dennison in a research report on Friday, October 27th. Finally, KeyCorp reaffirmed a hold rating on shares of Avery Dennison in a research report on Monday, October 30th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Avery Dennison has a consensus rating of Buy and a consensus price target of $122.75.
Avery Dennison (NYSE:AVY) opened at $119.53 on Monday. Avery Dennison has a 52-week low of $78.47 and a 52-week high of $123.67. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $10,520.00, a P/E ratio of 38.19, a P/E/G ratio of 2.84 and a beta of 1.20.
Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, beating 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 firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. equities analysts predict that Avery Dennison will post 5.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.51%. Avery Dennison’s payout ratio is 57.51%.
In other news, Director Peter K. Barker sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lori J. Bondar sold 10,855 shares of Avery Dennison stock in a transaction that occurred on Monday, November 20th. The stock was 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 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. Over the last ninety days, insiders sold 15,625 shares of company stock valued at $1,758,597. Insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. 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 purchasing an additional 800 shares during the last quarter. Focused Wealth Management Inc acquired a new stake in Avery Dennison during the 4th quarter worth approximately $184,000. Univest Corp of Pennsylvania acquired a new stake in Avery Dennison during the 4th quarter worth approximately $205,000. Meridian Investment Counsel Inc. acquired a new stake in Avery Dennison during the 4th quarter worth approximately $206,000. Finally, Bank of Stockton acquired a new stake in Avery Dennison during the 4th quarter worth approximately $206,000. 85.62% of the stock is 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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