Avery Dennison Corporation (AVY) Receives $96.17 Consensus Target Price from Analysts
Shares of Avery Dennison Corporation (NYSE:AVY) have received an average recommendation of “Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $96.17.
AVY has been the topic of several analyst reports. Robert W. Baird reissued a “buy” rating and set a $100.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Friday, September 22nd. Loop Capital initiated coverage on Avery Dennison Corporation in a research note on Thursday, September 28th. They set a “hold” rating and a $99.00 price objective on the stock. Bank of America Corporation raised Avery Dennison Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Citigroup Inc. boosted their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th.
Avery Dennison Corporation (AVY) traded up 0.45% during trading on Friday, hitting $99.71. The stock had a trading volume of 281,236 shares. The firm has a market cap of $8.81 billion, a P/E ratio of 23.42 and a beta of 1.19. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $100.10. The company has a 50-day moving average of $95.85 and a 200 day moving average of $88.47.
Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Avery Dennison Corporation will post $4.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.81%. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.
In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $94.00, for a total transaction of $28,012.00. Following the completion of the transaction, the director now owns 16,601 shares in the company, valued at $1,560,494. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Siewert sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the transaction, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The disclosure for this sale can be found here. Insiders have sold 12,298 shares of company stock valued at $1,152,312 in the last 90 days. Company insiders own 1.40% of the company’s stock.
Several large investors have recently made changes to their positions in AVY. BlackRock Inc. boosted its position in shares of Avery Dennison Corporation by 3,215.2% during the first quarter. BlackRock Inc. now owns 6,908,540 shares of the industrial products company’s stock valued at $556,829,000 after buying an additional 6,700,152 shares during the period. Principal Financial Group Inc. boosted its position in shares of Avery Dennison Corporation by 110.5% during the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock valued at $155,476,000 after buying an additional 923,548 shares during the period. Congress Asset Management Co. MA purchased a new position in shares of Avery Dennison Corporation during the second quarter valued at approximately $71,964,000. Westfield Capital Management Co. LP purchased a new position in shares of Avery Dennison Corporation during the first quarter valued at approximately $51,499,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of Avery Dennison Corporation during the first quarter valued at approximately $31,288,000. Institutional investors and hedge funds own 86.65% of the company’s stock.
Avery Dennison Corporation Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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