Barclays Increases Avery Dennison (AVY) Price Target to $140.00
Avery Dennison (NYSE:AVY) had its price target lifted by Barclays from $135.00 to $140.00 in a research report issued on Monday. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays’ price objective indicates a potential upside of 19.78% from the company’s current price.
Several other brokerages have also commented on AVY. JPMorgan Chase & Co. lowered Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price objective for the company. in a report on Thursday, February 1st. Zacks Investment Research upgraded Avery Dennison from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Monday, January 22nd. UBS Group began coverage on Avery Dennison in a report on Thursday, January 18th. They set a “buy” rating and a $135.00 price objective for the company. Bank of America increased their price objective on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a report on Monday, October 30th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $122.75.
Shares of Avery Dennison (AVY) opened at $116.88 on Monday. Avery Dennison has a twelve month low of $78.47 and a twelve month high of $123.67. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $10,290.00, a price-to-earnings ratio of 37.34, a PEG ratio of 2.71 and a beta of 1.20.
In related news, Director Peter K. Barker sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the transaction, the director now owns 26,703 shares in the company, valued at approximately $3,064,436.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julia A. Stewart sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total value of $433,680.00. The disclosure for this sale can be found here. Insiders sold a total of 16,855 shares of company stock valued at $1,866,802 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of AVY. West Oak Capital LLC raised its stake in shares of Avery Dennison by 114.3% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock valued at $172,000 after buying an additional 800 shares during the last quarter. Focused Wealth Management Inc purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $184,000. Univest Corp of Pennsylvania purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $205,000. Meridian Investment Counsel Inc. purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $206,000. Finally, Bank of Stockton purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $206,000. Institutional investors own 85.62% of the company’s stock.
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Avery Dennison 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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