Avery Dennison (NYSE:AVY) Given New $247.00 Price Target at BMO Capital Markets

Avery Dennison (NYSE:AVY) had its target price cut by BMO Capital Markets from $252.00 to $247.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $230.00 to $210.00 in a research report on Thursday. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective on the stock. Truist Financial lifted their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup dropped their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.42.

Avery Dennison Trading Up 1.1 %

NYSE AVY opened at $207.16 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The stock’s 50-day moving average is $216.73 and its 200-day moving average is $218.44. Avery Dennison has a one year low of $165.21 and a one year high of $233.48. The firm has a market cap of $16.69 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $2.10 EPS. Sell-side analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.70%. Avery Dennison’s payout ratio is 51.39%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,745,870.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock worth $12,545,087. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth about $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison during the 2nd quarter worth approximately $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison in the second quarter worth approximately $51,000. Raleigh Capital Management Inc. grew its stake in Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in shares of Avery Dennison during the first quarter valued at approximately $64,000. 94.17% of the stock is owned by institutional investors.

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.