BMO Capital Markets Reaffirms Outperform Rating for Avery Dennison (NYSE:AVY)

BMO Capital Markets reaffirmed their outperform rating on shares of Avery Dennison (NYSE:AVY - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $207.00 price objective on the industrial products company's stock, down from their previous price objective of $216.00.

AVY has been the subject of several other research reports. 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 research report on Monday, April 7th. Raymond James Financial upped their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Robert W. Baird reduced their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial reduced their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.60.

Avery Dennison Stock Performance

NYSE:AVY traded down $1.70 during mid-day trading on Wednesday, reaching $176.76. The company's stock had a trading volume of 90,690 shares, compared to its average volume of 758,910. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The firm's fifty day moving average price is $179.20 and its two-hundred day moving average price is $179.42. Avery Dennison has a 12-month low of $157.00 and a 12-month high of $224.38. The stock has a market cap of $13.82 billion, a P/E ratio of 19.84, a PEG ratio of 2.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.04. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. On average, equities analysts forecast that Avery Dennison will post 9.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Avery Dennison

Several institutional investors have recently bought and sold shares of AVY. TD Private Client Wealth LLC grew its position in shares of Avery Dennison by 9.3% during the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the industrial products company's stock valued at $182,000 after purchasing an additional 83 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Avery Dennison in the 4th quarter valued at about $577,000. Mizuho Securities USA LLC boosted its holdings in shares of Avery Dennison by 45.9% in the fourth quarter. Mizuho Securities USA LLC now owns 7,615 shares of the industrial products company's stock valued at $1,425,000 after purchasing an additional 2,394 shares during the period. American Century Companies Inc. boosted its holdings in shares of Avery Dennison by 4.2% in the fourth quarter. American Century Companies Inc. now owns 20,382 shares of the industrial products company's stock valued at $3,814,000 after purchasing an additional 819 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $5,176,000. 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.