Avery Dennison (AVY) Stock Rating Upgraded by Loop Capital
Avery Dennison (NYSE:AVY) was upgraded by stock analysts at Loop Capital from a “hold” rating to a “buy” rating in a research note issued on Thursday, MarketBeat.com reports. The firm currently has a $124.00 price objective on the industrial products company’s stock. Loop Capital’s price target suggests a potential upside of 13.70% from the stock’s current price.
Several other analysts also recently commented on the stock. Barclays upped their price target on shares of Avery Dennison from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. Citigroup upped their price target on shares of Avery Dennison from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Monday, May 21st. Finally, Bank of America upped their price target on shares of Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $123.78.
Shares of Avery Dennison stock opened at $109.06 on Thursday. Avery Dennison has a 12-month low of $95.96 and a 12-month high of $123.67. The company has a quick ratio of 0.79, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $9.25 billion, a PE ratio of 21.79, a P/E/G ratio of 2.49 and a beta of 1.25.
In related news, Director Anthony Anderson sold 1,275 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Gravanis sold 13,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $112.67, for a total transaction of $1,464,710.00. Following the transaction, the insider now owns 11,886 shares of the company’s stock, valued at approximately $1,339,195.62. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Squar Milner Financial Services LLC purchased a new position in Avery Dennison during the 2nd quarter worth $112,000. Steward Partners Investment Advisory LLC raised its position in Avery Dennison by 270.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after buying an additional 841 shares during the last quarter. Fort L.P. purchased a new position in Avery Dennison during the 2nd quarter worth $120,000. Tiverton Asset Management LLC raised its position in Avery Dennison by 50.7% during the 1st quarter. Tiverton Asset Management LLC now owns 1,478 shares of the industrial products company’s stock worth $157,000 after buying an additional 497 shares during the last quarter. Finally, Gideon Capital Advisors Inc. purchased a new position in Avery Dennison during the 1st quarter worth $205,000. Institutional investors own 84.69% of the company’s stock.
Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. 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. It also offers durable cast and reflective films.
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