Citigroup Issues Positive Forecast for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY) had its target price increased by analysts at Citigroup from $186.00 to $191.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup‘s price objective points to a potential upside of 2.75% from the company’s current price.

AVY has been the topic of several other research reports. Truist Financial lowered their price target on Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Wall Street Zen downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America reissued a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Avery Dennison from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.10.

Avery Dennison Stock Up 2.0%

NYSE:AVY traded up $3.67 on Monday, hitting $185.90. 276,994 shares of the company’s stock were exchanged, compared to its average volume of 740,566. The firm has a 50-day moving average price of $174.24 and a 200-day moving average price of $172.28. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80. Avery Dennison has a 52 week low of $152.42 and a 52 week high of $199.54. The company has a market cap of $14.09 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.10. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $2.37 earnings per share. Avery Dennison’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that Avery Dennison will post 10.17 EPS for the current fiscal year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total transaction of $663,262.48. Following the transaction, the senior vice president directly owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. This trade represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ignacio J. Walker sold 1,742 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $171.61, for a total transaction of $298,944.62. Following the transaction, the senior vice president directly owned 7,585 shares in the company, valued at approximately $1,301,661.85. This represents a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by company insiders.

Institutional Trading of Avery Dennison

A number of institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont purchased a new stake in Avery Dennison in the second quarter worth about $27,000. Activest Wealth Management purchased a new position in Avery Dennison during the third quarter valued at $27,000. Elevation Wealth Partners LLC lifted its position in Avery Dennison by 684.0% during the second quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock valued at $32,000 after buying an additional 171 shares during the period. Louisbourg Investments Inc. bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $39,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Avery Dennison in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.