Avery Dennison (NYSE:AVY) Given Outperform Rating at Raymond James

Avery Dennison (NYSE:AVY)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $208.00 price target on the industrial products company’s stock, down from their prior price target of $218.00. Raymond James’ price objective points to a potential upside of 11.53% from the company’s previous close.

AVY has been the topic of a number of other reports. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $210.00 to $205.00 in a research report on Friday. UBS Group lowered their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays lowered their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $228.96.

Avery Dennison Stock Up 2.2 %

Shares of AVY traded up $4.01 during trading hours on Friday, reaching $186.50. 557,989 shares of the stock traded hands, compared to its average volume of 731,092. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $193.54 and a 200 day simple moving average of $206.34. Avery Dennison has a 52 week low of $179.20 and a 52 week high of $233.48. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.38 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. On average, equities analysts forecast that Avery Dennison will post 9.41 EPS for the current year.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares in the last quarter. World Investment Advisors LLC boosted its stake in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after purchasing an additional 88,491 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Avery Dennison by 135.6% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock valued at $27,476,000 after purchasing an additional 84,501 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

About Avery Dennison

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.