Bank of America Lowers Avery Dennison (NYSE:AVY) Price Target to $220.00

Avery Dennison (NYSE:AVY) had its price target decreased by equities researchers at Bank of America from $238.00 to $220.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target would indicate a potential upside of 17.87% from the stock’s current price.

A number of other research analysts also recently weighed in on AVY. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial cut their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday. Citigroup decreased their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Barclays reduced their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.60.

Avery Dennison Price Performance

AVY opened at $186.65 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 1 year low of $181.99 and a 1 year high of $233.48. The stock has a fifty day moving average price of $198.23 and a 200 day moving average price of $209.88. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 EPS. Analysts forecast that Avery Dennison will post 9.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Avery Dennison

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the 3rd quarter valued at $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $39,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth about $42,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares in the last quarter. 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.