Avery Dennison Corp (AVY) Given Average Recommendation of “Hold” by Brokerages
Avery Dennison Corp (NYSE:AVY) has received an average rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $118.33.
AVY has been the topic of a number of analyst reports. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 price target on the stock. in a research note on Friday, March 15th. They noted that the move was a valuation call. KeyCorp restated a “sector weight” rating and issued a $110.00 price target on shares of Avery Dennison in a research note on Sunday, April 7th. Loop Capital downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. BMO Capital Markets lifted their price target on Avery Dennison to $114.00 and gave the company a “market perform” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research downgraded Avery Dennison from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th.
In other news, VP Lori J. Bondar sold 8,444 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $109.03, for a total value of $920,649.32. Following the completion of the sale, the vice president now owns 25,872 shares of the company’s stock, valued at $2,820,824.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ken C. Hicks sold 9,691 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $110.10, for a total value of $1,066,979.10. Following the completion of the sale, the director now directly owns 28,396 shares of the company’s stock, valued at approximately $3,126,399.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 238,328 shares of company stock valued at $25,927,220. 1.30% of the stock is owned by company insiders.
Shares of Avery Dennison stock traded up $1.46 during trading on Friday, reaching $101.15. The company’s stock had a trading volume of 22,177 shares, compared to its average volume of 622,645. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.14 and a quick ratio of 0.80. Avery Dennison has a 12-month low of $82.89 and a 12-month high of $117.00. The company has a market cap of $8.50 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.
Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Avery Dennison will post 6.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.52. Avery Dennison’s payout ratio is 34.32%.
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, as well as durable cast and reflective films.
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