Citigroup Forecasts Strong Price Appreciation for Avery Dennison (NYSE:AVY) Stock

Avery Dennison (NYSE:AVY - Get Free Report) had its price target lifted by research analysts at Citigroup from $177.00 to $185.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 1.54% from the company's current price.

AVY has been the subject of several other reports. Raymond James Financial reduced their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets reduced their price target on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. 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 note on Tuesday, April 22nd. UBS Group reduced their price target on 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, JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and cut their target price for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $196.90.

Avery Dennison Stock Performance

Shares of AVY stock traded down $2.43 during trading on Friday, reaching $182.20. 487,015 shares of the company's stock were exchanged, compared to its average volume of 650,929. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $14.24 billion, a PE ratio of 20.99, a PEG ratio of 2.55 and a beta of 0.87. Avery Dennison has a twelve month low of $157.00 and a twelve month high of $233.48. The firm's fifty day moving average price is $178.65 and its 200-day moving average price is $179.91.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The firm's revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, sell-side analysts anticipate that Avery Dennison will post 9.96 EPS for the current year.

Hedge Funds Weigh In On Avery Dennison

Institutional investors have recently modified their holdings of the business. Bayforest Capital Ltd acquired a new position in shares of Avery Dennison during the 1st quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Avery Dennison by 193.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 170 shares of the industrial products company's stock worth $30,000 after buying an additional 112 shares in the last quarter. SouthState Corp raised its holdings in shares of Avery Dennison by 195.7% during the 1st 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 holdings in shares of Avery Dennison by 70.2% during the 2nd 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 acquired a new position in shares of Avery Dennison during the 1st quarter worth $40,000. Institutional investors and hedge funds 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.