Avery Dennison (NYSE:AVY) Coverage Initiated by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group initiated coverage on shares of Avery Dennison (NYSE:AVY) in a research note issued on Tuesday. The brokerage set a “hold” rating and a $175.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 3.36% from the stock’s previous close.

Several other research firms also recently commented on AVY. Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group reduced their price target on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Truist Financial restated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Finally, Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.05.

Avery Dennison Stock Down 0.9 %

AVY stock opened at $169.31 on Tuesday. The company has a 50 day moving average of $177.31 and a two-hundred day moving average of $190.63. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison has a 12-month low of $157.00 and a 12-month high of $233.48. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities analysts anticipate that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVY. Blue Trust Inc. increased its position in shares of Avery Dennison by 11.1% in the first quarter. Blue Trust Inc. now owns 2,636 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 264 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Avery Dennison by 1.4% in the 1st quarter. Boston Trust Walden Corp now owns 294,709 shares of the industrial products company’s stock valued at $52,449,000 after buying an additional 4,201 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in Avery Dennison by 1,305.6% during the first quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company’s stock worth $47,065,000 after buying an additional 245,638 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Avery Dennison by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 17,133 shares of the industrial products company’s stock valued at $3,049,000 after acquiring an additional 250 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Avery Dennison by 17.7% in the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 59 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.