Avery Dennison (NYSE:AVY – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.000-9.500 for the period, compared to the consensus earnings per share estimate of 9.320. The company issued revenue guidance of -. Avery Dennison also updated its FY24 guidance to $9.00 to $9.50 EPS.
Avery Dennison Trading Up 3.2 %
Shares of Avery Dennison stock traded up $6.80 during trading on Wednesday, reaching $218.13. 88,557 shares of the stock were exchanged, compared to its average volume of 432,239. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The stock’s fifty day moving average is $215.22 and its 200 day moving average is $199.92. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.26.
Avery Dennison (NYSE:AVY – Get Free Report) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.16. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. As a group, equities research analysts expect that Avery Dennison will post 9.26 earnings per share for the current fiscal year.
Avery Dennison Dividend Announcement
Analysts Set New Price Targets
Several analysts have commented on AVY shares. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an overweight rating in a report on Thursday, February 1st. Raymond James raised their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the company an outperform rating in a research note on Thursday, January 25th. StockNews.com raised shares of Avery Dennison from a hold rating to a buy rating in a research note on Monday. UBS Group raised their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a research note on Thursday, January 11th. Finally, Citigroup raised their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $221.00.
Insider Transactions at Avery Dennison
In other news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Avery Dennison Company Profile
Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.
Featured Stories
- Five stocks we like better than Avery Dennison
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- GE Aerospace is Ready for Liftoff After Strong Earnings
- How to Find Undervalued Stocks
- The Bottom is in For Tesla: Read This Before Buying the Bounce
- How to Capture the Benefits of Dividend Increases
- 3 Technologies to Challenge NAND Flash Dominance in AI
Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.