Avery Dennison Co. (NYSE:AVY) Given Average Rating of “Moderate Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $222.51.

A number of equities research analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Bank of America decreased their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st.

Avery Dennison Stock Up 1.3 %

NYSE:AVY opened at $178.05 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison has a 1-year low of $173.02 and a 1-year high of $233.48. The company has a 50-day moving average of $183.02 and a 200 day moving average of $196.14. The firm has a market cap of $14.06 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts anticipate that Avery Dennison will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Large investors have recently modified their holdings of the stock. Greenleaf Trust raised its holdings in Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 57 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after buying an additional 58 shares during the period. RMR Wealth Builders boosted its stake in shares of Avery Dennison by 5.7% in the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after buying an additional 59 shares in the last quarter. Finally, Baker Avenue Asset Management LP grew its holdings in Avery Dennison by 5.7% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 59 shares during the period. Hedge funds and other 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.