Avery Dennison (NYSE:AVY) Stock Price Expected to Rise, UBS Group Analyst Says

Avery Dennison (NYSE:AVY) had its price target increased by investment analysts at UBS Group from $225.00 to $230.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. UBS Group‘s target price would indicate a potential upside of 26.24% from the stock’s previous close.

A number of other equities analysts have also weighed in on AVY. Truist Financial lowered their target price 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. Jefferies Financial Group restated a “hold” rating and set a $181.00 price target on shares of Avery Dennison in a research note on Monday, September 28th. Citigroup upped their price objective on shares of Avery Dennison from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Wall Street Zen cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.60.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $182.19 on Friday. The business has a 50-day simple moving average of $174.24 and a 200 day simple moving average of $172.28. Avery Dennison has a one year low of $152.42 and a one year high of $199.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.15 and a beta of 0.79.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.26 billion. During the same quarter in the prior year, the company earned $2.37 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Avery Dennison will post 10.17 earnings per share for the current fiscal year.

Insider Activity at Avery Dennison

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

Institutional Investors Weigh In On Avery Dennison

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its stake in shares of Avery Dennison by 39.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,672 shares of the industrial products company’s stock worth $850,000 after buying an additional 1,323 shares during the last quarter. Covestor Ltd boosted its position in Avery Dennison by 47.4% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 146 shares during the last quarter. Ascent Group LLC purchased a new position in Avery Dennison in the third quarter worth $206,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Avery Dennison in the 3rd quarter valued at $3,474,000. Finally, ProShare Advisors LLC increased its position in shares of Avery Dennison by 8.4% during the 3rd quarter. ProShare Advisors LLC now owns 16,972 shares of the industrial products company’s stock valued at $2,897,000 after purchasing an additional 1,321 shares during the last quarter. 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.