Avery Dennison (NYSE:AVY) Given New $245.00 Price Target at Truist Financial

Avery Dennison (NYSE:AVY) had its price target decreased by equities research analysts at Truist Financial from $258.00 to $245.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 32.37% from the company’s previous close.

A number of other equities analysts have also recently issued reports on AVY. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $243.78.

Avery Dennison Trading Up 1.0 %

AVY opened at $185.09 on Monday. The company has a fifty day moving average price of $198.61 and a two-hundred day moving average price of $210.27. Avery Dennison has a 1-year low of $181.99 and a 1-year high of $233.48. The company has a market cap of $14.87 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 EPS. Analysts predict that Avery Dennison will post 9.42 EPS for the current fiscal year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

A number of hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC lifted its position in shares of Avery Dennison by 1.8% during the 2nd quarter. Private Advisor Group LLC now owns 12,160 shares of the industrial products company’s stock valued at $2,659,000 after buying an additional 220 shares during the last quarter. Acadian Asset Management LLC boosted its position in Avery Dennison by 3,517.1% during the second quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock worth $17,701,000 after purchasing an additional 78,748 shares during the period. Caprock Group LLC increased its stake in shares of Avery Dennison by 15.9% in the second quarter. Caprock Group LLC now owns 1,176 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 161 shares in the last quarter. Varma Mutual Pension Insurance Co bought a new stake in shares of Avery Dennison in the second quarter valued at approximately $9,802,000. Finally, Oak Thistle LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at approximately $484,000. Institutional investors own 94.17% of the company’s stock.

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.