Brokerages Set Avery Dennison Corporation (AVY) Target Price at $101.20
Shares of Avery Dennison Corporation (NYSE:AVY) have been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $109.00.
Several equities research analysts have recently issued reports on AVY shares. Citigroup Inc. lifted their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Robert W. Baird reiterated a “buy” rating and set a $100.00 price objective on shares of Avery Dennison Corporation in a research report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of Avery Dennison Corporation in a research report on Friday, September 22nd. Loop Capital started coverage on shares of Avery Dennison Corporation in a research report on Thursday, September 28th. They set a “hold” rating and a $99.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th.
Avery Dennison Corporation (NYSE:AVY) traded up 0.81% during trading on Thursday, reaching $106.17. 747,552 shares of the company’s stock were exchanged. Avery Dennison Corporation has a 12-month low of $68.68 and a 12-month high of $106.56. The stock’s 50-day moving average is $99.75 and its 200-day moving average is $91.35. The company has a market cap of $9.38 billion, a P/E ratio of 24.94 and a beta of 1.19.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.49%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. Analysts predict that Avery Dennison Corporation will post $4.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 40.18%.
In related news, Director Patrick Siewert sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the completion of the transaction, the director now directly owns 10,519 shares of the company’s stock, valued at $984,893.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dean A. Scarborough sold 20,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the insider now directly owns 94,042 shares of the company’s stock, valued at $9,874,410. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,298 shares of company stock valued at $4,297,712. 1.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of AVY. Acrospire Investment Management LLC purchased a new position in shares of Avery Dennison Corporation in the second quarter valued at $129,000. Captrust Financial Advisors purchased a new position in shares of Avery Dennison Corporation in the second quarter valued at $130,000. Pacad Investment Ltd. purchased a new position in shares of Avery Dennison Corporation in the second quarter valued at $141,000. Conning Inc. purchased a new position in shares of Avery Dennison Corporation in the third quarter valued at $200,000. Finally, Advisor Partners LLC purchased a new position in shares of Avery Dennison Corporation in the second quarter valued at $207,000. 86.76% of the stock is owned by hedge funds and other institutional investors.
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Avery Dennison Corporation 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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