Avery Dennison (NYSE:AVY) Price Target Raised to $208.00 at Bank of America

Avery Dennison (NYSE:AVY - Free Report) had its price target boosted by Bank of America from $195.00 to $208.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

Several other equities research analysts have also commented on AVY. Robert W. Baird decreased 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. Truist Financial decreased their price target on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target for the company. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Barclays decreased 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $196.90.

Avery Dennison Stock Down 1.3%

Shares of AVY stock traded down $2.43 on Wednesday, reaching $182.20. 487,015 shares of the company were exchanged, compared to its average volume of 650,352. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.59 and a beta of 0.87. The company has a 50-day moving average of $178.44 and a 200-day moving average of $179.96. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68. Avery Dennison has a one year low of $157.00 and a one year high of $233.48.

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

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.06%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new position in Avery Dennison in the 4th quarter valued at $496,000. GAMMA Investing LLC boosted its holdings in Avery Dennison by 9.4% in the 1st quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 207 shares during the period. Spire Wealth Management boosted its holdings in Avery Dennison by 630.9% in the 1st quarter. Spire Wealth Management now owns 2,200 shares of the industrial products company's stock valued at $392,000 after purchasing an additional 1,899 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Avery Dennison by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,185 shares of the industrial products company's stock valued at $2,169,000 after purchasing an additional 217 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Avery Dennison by 11.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,953 shares of the industrial products company's stock worth $526,000 after acquiring an additional 300 shares during the last quarter. 94.17% of the stock is owned by 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.