Avery Dennison (NYSE:AVY) had its target price hoisted by equities research analysts at BMO Capital Markets from $200.00 to $241.00 in a research note issued on Friday, The Fly reports. The firm currently has an "outperform" rating on the industrial products company's stock. BMO Capital Markets' target price would indicate a potential upside of 12.23% from the company's current price.
A number of other research analysts also recently issued reports on AVY. S&P Equity Research upgraded Avery Dennison from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $149.00 to $181.00 in a report on Thursday, January 7th. Citigroup increased their price objective on Avery Dennison from $219.00 to $243.00 in a report on Thursday. Smith Barney Citigroup reiterated a "buy" rating on shares of Avery Dennison in a report on Thursday, January 7th. Atlantic Securities reiterated a "neutral" rating on shares of Avery Dennison in a report on Tuesday, March 23rd. Finally, JPMorgan Chase & Co. raised Avery Dennison from an "underweight" rating to a "neutral" rating and increased their price target for the company from $155.00 to $215.00 in a research report on Thursday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Avery Dennison currently has an average rating of "Buy" and a consensus target price of $210.42.
Shares of Avery Dennison stock opened at $214.73 on Friday. Avery Dennison has a 1 year low of $98.84 and a 1 year high of $216.98. The business has a 50-day moving average of $189.86 and a two-hundred day moving average of $164.44. The company has a market capitalization of $17.83 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 3.25 and a beta of 0.95. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.31 and a quick ratio of 0.94.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, April 27th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.39. Avery Dennison had a return on equity of 44.88% and a net margin of 7.80%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities analysts anticipate that Avery Dennison will post 6.94 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Avery Dennison during the 4th quarter worth approximately $125,624,000. Veritas Investment Partners UK Ltd. acquired a new stake in Avery Dennison during the 4th quarter worth approximately $83,811,000. Egerton Capital UK LLP acquired a new stake in Avery Dennison during the 4th quarter worth approximately $57,647,000. Price T Rowe Associates Inc. MD lifted its holdings in Avery Dennison by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,670,587 shares of the industrial products company's stock worth $1,034,675,000 after purchasing an additional 362,047 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its holdings in Avery Dennison by 89.0% during the 4th quarter. Waverton Investment Management Ltd now owns 573,228 shares of the industrial products company's stock worth $88,913,000 after purchasing an additional 269,859 shares during the last quarter. 89.04% of the stock is owned by institutional investors.
About Avery Dennison
Avery Dennison Corporation manufactures and markets pressure-sensitive materials in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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