Avery Dennison (NYSE:AVY) Price Target Increased to $253.00 by Analysts at Truist Financial

Avery Dennison (NYSE:AVY) had its target price increased by analysts at Truist Financial from $248.00 to $253.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 15.58% from the stock’s current price.

Several other research firms have also weighed in on AVY. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group raised their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Robert W. Baird raised their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a research report on Tuesday, January 2nd. Finally, Raymond James reissued an “outperform” rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Avery Dennison Stock Performance

Shares of AVY traded up $1.73 during midday trading on Friday, reaching $218.89. 163,770 shares of the stock were exchanged, compared to its average volume of 440,543. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. Avery Dennison has a twelve month low of $158.93 and a twelve month high of $225.26. The business’s 50-day moving average price is $215.51 and its 200 day moving average price is $200.13. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 3.28 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.65 EPS. On average, sell-side analysts expect that Avery Dennison will post 9.26 EPS for the current fiscal year.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVY. SYSTM Wealth Solutions LLC boosted its holdings in Avery Dennison by 28.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 30,115 shares of the industrial products company’s stock valued at $6,723,000 after purchasing an additional 6,747 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Avery Dennison by 88.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,752 shares of the industrial products company’s stock worth $11,330,000 after purchasing an additional 23,852 shares during the period. Albert D Mason Inc. lifted its position in shares of Avery Dennison by 0.7% during the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock valued at $1,665,000 after purchasing an additional 51 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Avery Dennison by 11.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,860 shares of the industrial products company’s stock worth $1,531,000 after acquiring an additional 680 shares during the period. Finally, Win Advisors Inc. purchased a new position in shares of Avery Dennison in the first quarter worth about $296,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Company Profile

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.