Avery Dennison (NYSE:AVY) Price Target Increased to $215.00 by Analysts at Morgan Stanley


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Avery Dennison (NYSE:AVY) had its price objective increased by Morgan Stanley from $182.00 to $215.00 in a research note published on Monday, Analyst Ratings Network reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Several other analysts also recently issued reports on AVY. Robert W. Baird lifted their price target on Avery Dennison from $200.00 to $250.00 and gave the company an outperform rating in a research note on Thursday, April 29th. Atlantic Securities reissued a neutral rating on shares of Avery Dennison in a research note on Tuesday, March 23rd. Citigroup lifted their price target on Avery Dennison from $219.00 to $243.00 in a research note on Thursday, April 29th. Loop Capital lifted their target price on Avery Dennison from $210.00 to $215.00 and gave the company a buy rating in a research report on Friday, April 16th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on Avery Dennison from $219.00 to $243.00 and gave the company a buy rating in a research report on Thursday, April 29th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $217.08.

Shares of Avery Dennison stock opened at $213.71 on Monday. The company has a market capitalization of $17.74 billion, a PE ratio of 34.14, a PEG ratio of 3.25 and a beta of 0.95. Avery Dennison has a 12 month low of $98.84 and a 12 month high of $216.98. The company has a current ratio of 1.31, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. The stock’s fifty day simple moving average is $192.59 and its 200 day simple moving average is $166.11.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, April 27th. The industrial products company reported $2.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.39. Avery Dennison had a return on equity of 44.88% and a net margin of 7.80%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted $1.66 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. Analysts predict that Avery Dennison will post 6.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 16th. Stockholders of record on Wednesday, June 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Tuesday, June 1st. This is a boost from Avery Dennison’s previous quarterly dividend of $0.62. Avery Dennison’s payout ratio is currently 37.58%.

Several large investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Avery Dennison in the first quarter valued at approximately $29,000. Vantage Consulting Group Inc acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $31,000. NuWave Investment Management LLC acquired a new stake in shares of Avery Dennison in the first quarter valued at approximately $34,000. Knuff & Co LLC raised its position in shares of Avery Dennison by 35.7% in the fourth quarter. Knuff & Co LLC now owns 251 shares of the industrial products company’s stock valued at $39,000 after buying an additional 66 shares in the last quarter. Finally, CX Institutional raised its position in shares of Avery Dennison by 65.7% in the first quarter. CX Institutional now owns 280 shares of the industrial products company’s stock valued at $52,000 after buying an additional 111 shares in the last quarter. Institutional investors own 89.04% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation manufactures and markets pressure-sensitive materials in the United States, Europe, Asia, Latin America, and internationally. 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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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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