JPMorgan Chase & Co. Issues Positive Forecast for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY - Free Report) had its price target boosted by JPMorgan Chase & Co. from $172.00 to $182.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company's stock.

A number of other equities analysts have also issued reports on AVY. Jefferies Financial Group started coverage on Avery Dennison in a research note on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target for the company. Barclays cut their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Raymond James Financial increased their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Robert W. Baird lowered their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group lowered their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison Stock Down 0.4%

Shares of NYSE:AVY traded down $0.75 during trading on Wednesday, hitting $177.70. The company's stock had a trading volume of 461,300 shares, compared to its average volume of 761,693. The stock's 50-day moving average price is $179.20 and its two-hundred day moving average price is $179.42. Avery Dennison has a fifty-two week low of $157.00 and a fifty-two week high of $224.38. The company has a market capitalization of $13.89 billion, a PE ratio of 19.94, a PEG ratio of 2.52 and a beta of 0.87. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.04.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is currently 42.20%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVY. Norges Bank bought a new position in Avery Dennison in the 4th quarter worth approximately $188,643,000. GAMMA Investing LLC raised its position in Avery Dennison by 19,370.0% in the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after purchasing an additional 426,528 shares during the last quarter. DAVENPORT & Co LLC raised its position in Avery Dennison by 905.0% in the 1st quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock worth $57,503,000 after purchasing an additional 291,848 shares during the last quarter. Vanguard Group Inc. raised its position in Avery Dennison by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company's stock worth $1,772,450,000 after purchasing an additional 277,554 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Avery Dennison during the 4th quarter worth $51,521,000. 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.