Avery Dennison (NYSE:AVY) Upgraded at StockNews.com

Avery Dennison (NYSE:AVY - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Thursday.

A number of other brokerages also recently issued reports on AVY. JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. Raymond James decreased their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Avery Dennison in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target for the company. UBS Group cut their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Barclays reduced their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Price Performance

Avery Dennison stock traded down $1.31 during mid-day trading on Thursday, reaching $178.81. 36,168 shares of the company's stock traded hands, compared to its average volume of 777,625. 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 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average of $173.99 and a two-hundred day moving average of $185.31. The company has a market cap of $13.98 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.07 and a beta of 0.88.

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 during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share. Equities analysts forecast that Avery Dennison will post 9.96 earnings per share for the current year.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company's stock, valued at $58,891,897. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new position in shares of Avery Dennison during the 4th quarter worth $496,000. Merit Financial Group LLC purchased a new stake in Avery Dennison in the fourth quarter worth about $203,000. Running Oak Capital LLC grew its holdings in Avery Dennison by 13.5% during the 4th quarter. Running Oak Capital LLC now owns 63,830 shares of the industrial products company's stock worth $11,945,000 after acquiring an additional 7,572 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Avery Dennison during the 4th quarter valued at about $11,396,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Avery Dennison by 11.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 150 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

About Avery Dennison

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.

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