Avery Dennison Corp (AVY) Receives $122.83 Consensus PT from Brokerages
Avery Dennison Corp (NYSE:AVY) has earned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $122.83.
Several research firms have weighed in on AVY. JPMorgan Chase & Co. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price objective on the stock. in a research report on Thursday, February 1st. Zacks Investment Research upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a report on Monday, January 22nd. UBS Group started coverage on shares of Avery Dennison in a report on Thursday, January 18th. They set a “buy” rating and a $135.00 price target on the stock. Bank of America boosted their price target on shares of Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Barclays boosted their price target on shares of Avery Dennison from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 12th.
Avery Dennison (NYSE AVY) traded down $0.78 during midday trading on Wednesday, reaching $115.16. 665,705 shares of the company’s stock traded hands, compared to its average volume of 731,752. Avery Dennison has a 12-month low of $78.47 and a 12-month high of $123.67. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. The stock has a market cap of $10,130.00, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.82 and a beta of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, March 6th. Avery Dennison’s dividend payout ratio is currently 35.50%.
In other news, VP Susan C. Miller sold 3,131 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $120.33, for a total transaction of $376,753.23. Following the transaction, the vice president now directly owns 29,257 shares in the company, valued at approximately $3,520,494.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter K. Barker sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total transaction of $229,520.00. Following the transaction, the director now owns 26,703 shares in the company, valued at $3,064,436.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,535 shares of company stock worth $4,316,315. 1.40% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC boosted its holdings in Avery Dennison by 77.6% in the third quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock worth $4,384,000 after purchasing an additional 19,479 shares in the last quarter. ETRADE Capital Management LLC boosted its holdings in Avery Dennison by 12.8% in the third quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock worth $2,061,000 after purchasing an additional 2,377 shares in the last quarter. KAMES CAPITAL plc bought a new stake in Avery Dennison in the fourth quarter worth $71,586,000. Aurora Investment Counsel bought a new stake in Avery Dennison in the fourth quarter worth $565,000. Finally, IFM Investors Pty Ltd bought a new stake in Avery Dennison in the third quarter worth $317,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
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About Avery Dennison
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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