JPMorgan Chase & Co. Increases Avery Dennison (NYSE:AVY) Price Target to $220.00

Avery Dennison (NYSE:AVY - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $218.00 to $220.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 1.34% from the company's current price.

AVY has been the topic of several other reports. Robert W. Baird upped their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup raised their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a "neutral" rating in a report on Thursday, April 4th. Truist Financial reaffirmed a "buy" rating and set a $249.00 target price on shares of Avery Dennison in a report on Friday, January 19th. Bank of America lowered shares of Avery Dennison from a "buy" rating to an "underperform" rating and set a $208.00 price target on the stock. in a research report on Tuesday, January 2nd. Finally, Raymond James reiterated an "outperform" rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $223.60.

Avery Dennison Trading Up 2.2 %

Shares of NYSE:AVY traded up $4.67 during midday trading on Thursday, hitting $217.09. The company had a trading volume of 672,113 shares, compared to its average volume of 443,686. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 3.26 and a beta of 0.90. The firm has a fifty day simple moving average of $215.34 and a 200 day simple moving average of $200.01.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The company's revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Avery Dennison will post 9.26 EPS for the current year.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock worth $4,217,705 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors have recently made changes to their positions in AVY. Ameriprise Financial Inc. raised its holdings in Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company's stock worth $487,857,000 after purchasing an additional 493,857 shares in the last quarter. Morgan Stanley increased its stake in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company's stock worth $326,673,000 after acquiring an additional 639,521 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company's stock worth $240,819,000 after acquiring an additional 1,163,264 shares in the last quarter. Truist Financial Corp increased its stake in shares of Avery Dennison by 5.5% in the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company's stock worth $200,302,000 after acquiring an additional 57,106 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company's stock worth $184,026,000 after acquiring an additional 307,325 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

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.