Avery Dennison (NYSE:AVY) Receives Outperform Rating from BMO Capital Markets

Avery Dennison (NYSE:AVY)‘s stock had its “outperform” rating reaffirmed by equities research analysts at BMO Capital Markets in a note issued to investors on Thursday, Benzinga reports. They currently have a $252.00 price objective on the industrial products company’s stock, down from their prior price objective of $254.00. BMO Capital Markets’ target price would suggest a potential upside of 19.10% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus assumed coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. Citigroup raised their price objective on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Robert W. Baird upped their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $239.78.

Avery Dennison Price Performance

Avery Dennison stock opened at $211.58 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company’s fifty day moving average price is $215.56 and its 200 day moving average price is $218.80. The stock has a market capitalization of $17.04 billion, a P/E ratio of 30.89, a P/E/G ratio of 1.81 and a beta of 0.88. Avery Dennison has a 1 year low of $165.21 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.92 earnings per share. As a group, equities research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,745,870.60. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

Several large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the second quarter worth $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the second quarter valued at $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the second quarter valued at $51,000. Palisade Asset Management LLC purchased a new stake in Avery Dennison during the 1st quarter worth about $64,000. Finally, Versant Capital Management Inc raised its position in Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

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.