Avery Dennison (NYSE:AVY) Price Target Raised to $230.00 at Robert W. Baird

Avery Dennison (NYSE:AVY) had its target price lifted by Robert W. Baird from $215.00 to $230.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. Bank of America cut shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. StockNews.com raised shares of Avery Dennison from a hold rating to a buy rating in a research report on Monday, April 22nd. Finally, UBS Group boosted their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $224.00.

Avery Dennison Trading Up 0.9 %

Shares of AVY opened at $219.03 on Thursday. The stock has a fifty day moving average of $215.71 and a two-hundred day moving average of $200.58. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87. The company has a market capitalization of $17.64 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. Avery Dennison has a fifty-two week low of $158.93 and a fifty-two week high of $225.26.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the firm posted $1.65 EPS. Avery Dennison’s revenue was up 4.2% on a year-over-year basis. As a group, analysts forecast that Avery Dennison will post 9.26 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is 51.39%.

Insider Activity

In other news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVY. Exchange Traded Concepts LLC grew its position in Avery Dennison by 38.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,298 shares of the industrial products company’s stock worth $602,000 after purchasing an additional 914 shares during the last quarter. Caprock Group LLC bought a new position in shares of Avery Dennison in the third quarter valued at approximately $284,000. Oak Thistle LLC bought a new position in shares of Avery Dennison in the third quarter valued at approximately $287,000. Czech National Bank boosted its holdings in shares of Avery Dennison by 47.4% in the third quarter. Czech National Bank now owns 14,084 shares of the industrial products company’s stock valued at $2,573,000 after acquiring an additional 4,527 shares in the last quarter. Finally, Connecticut Wealth Management LLC bought a new position in shares of Avery Dennison in the third quarter valued at approximately $247,000. Institutional investors own 94.17% of the company’s stock.

About Avery Dennison

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.