Barclays Cuts Avery Dennison (NYSE:AVY) Price Target to $245.00

Avery Dennison (NYSE:AVY) had its price target trimmed by Barclays from $250.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

AVY has been the subject of several other research reports. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. BMO Capital Markets decreased their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Stock Performance

Shares of AVY opened at $207.76 on Monday. The company has a market capitalization of $16.74 billion, a PE ratio of 30.33, a PEG ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company’s 50 day moving average price is $216.36 and its 200 day moving average price is $218.30. Avery Dennison has a 52 week low of $171.04 and a 52 week high of $233.48.

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

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,144,259.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,108 shares of company stock valued at $10,407,587 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Avery Dennison

Institutional investors have recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in Avery Dennison by 195.2% during the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after buying an additional 11,811 shares in the last quarter. Natixis increased its stake in Avery Dennison by 365.9% in the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 3,575 shares during the period. Mediolanum International Funds Ltd acquired a new position in Avery Dennison in the first quarter worth about $2,935,000. SG Americas Securities LLC lifted its stake in Avery Dennison by 86.5% during the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock worth $7,114,000 after purchasing an additional 15,092 shares during the period. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in Avery Dennison during the second quarter valued at approximately $543,000. Institutional investors and hedge funds 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.