Avery Dennison (NYSE:AVY) Stock Rating Lowered by Zacks Investment Research


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Avery Dennison (NYSE:AVY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. They currently have a $200.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 4.93% from the company’s current price.

According to Zacks, “Avery Dennison’s earnings estimates for the first quarter and current year have undergone upward revisions lately. It expects earnings per share between $7.65 and $8.05 for the current year. The mid-point of the range reflects year-over-year growth of 11%. Avery Dennison’s Label and Packaging Materials segment serves essential categories that are witnessing higher demand amid the coronavirus pandemic. However, the Retail Branding and Information Solutions business continues to be hurt by decline in demand owing to retail store and apparel manufacturing closures. The company expects incremental savings from restructuring actions of $70 million during 2021. Its strong liquidity position will also drive growth. The company is poised to gain from investment in high-value product categories, acquisitions and productivity improvement.”

AVY has been the subject of a number of other reports. BMO Capital Markets increased their target price on shares of Avery Dennison from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Loop Capital upped their price objective on shares of Avery Dennison from $164.00 to $187.00 and gave the company a “buy” rating in a report on Friday, February 5th. UBS Group upped their price objective on shares of Avery Dennison from $150.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, December 9th. S&P Equity Research raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $149.00 to $181.00 in a report on Thursday, January 7th. Finally, Robert W. Baird upped their price objective on shares of Avery Dennison from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $178.82.

Shares of NYSE AVY opened at $190.60 on Tuesday. The firm has a 50-day simple moving average of $180.22 and a 200-day simple moving average of $156.30. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 3.25 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 1.31 and a debt-to-equity ratio of 1.51. Avery Dennison has a 52 week low of $98.84 and a 52 week high of $192.91.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, February 2nd. The industrial products company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.18. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Avery Dennison had a net margin of 7.80% and a return on equity of 44.88%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, equities research analysts expect that Avery Dennison will post 6.94 EPS for the current year.

A number of hedge funds have recently made changes to their positions in AVY. Vantage Consulting Group Inc purchased a new position in shares of Avery Dennison in the fourth quarter valued at approximately $31,000. Knuff & Co LLC boosted its stake in shares of Avery Dennison by 35.7% in the fourth quarter. Knuff & Co LLC now owns 251 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 66 shares during the period. RMR Wealth Builders purchased a new position in shares of Avery Dennison in the fourth quarter valued at approximately $69,000. Hoover Financial Advisors Inc. purchased a new position in shares of Avery Dennison in the fourth quarter valued at approximately $81,000. Finally, Rational Advisors LLC boosted its stake in shares of Avery Dennison by 6,944.4% in the fourth quarter. Rational Advisors LLC now owns 634 shares of the industrial products company’s stock valued at $98,000 after purchasing an additional 625 shares during the period. 89.04% of the stock is owned by institutional investors.

Avery Dennison Company Profile

Avery Dennison Corporation manufactures and markets pressure-sensitive materials in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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