Avery Dennison Corporation (NYSE:AVY) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Avery Dennison Corporation (NYSE:AVY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $198.60.

A number of equities analysts have commented on the stock. Barclays cut their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Raymond James Financial cut their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group cut their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Robert W. Baird cut their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th.

Institutional Investors Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in Avery Dennison during the 1st quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Avery Dennison by 193.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 170 shares of the industrial products company's stock worth $30,000 after purchasing an additional 112 shares during the period. SouthState Corp raised its stake in Avery Dennison by 195.7% in the first quarter. SouthState Corp now owns 207 shares of the industrial products company's stock worth $37,000 after buying an additional 137 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Avery Dennison by 70.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 211 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares in the last quarter. Finally, Costello Asset Management INC purchased a new stake in Avery Dennison in the first quarter worth about $40,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Price Performance

NYSE:AVY traded up $0.98 during mid-day trading on Thursday, hitting $184.50. 503,380 shares of the stock traded hands, compared to its average volume of 648,839. The business's 50-day moving average price is $178.13 and its 200 day moving average price is $179.98. The company has a market cap of $14.42 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.92 and a beta of 0.87. Avery Dennison has a 12-month low of $157.00 and a 12-month high of $233.48. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. Avery Dennison's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. On average, analysts expect that Avery Dennison will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.94 per share. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's dividend payout ratio is currently 43.32%.

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.