Truist Financial Boosts Avery Dennison (NYSE:AVY) Price Target to $253.00

Avery Dennison (NYSE:AVY - Get Free Report) had its price objective boosted by research analysts at Truist Financial from $248.00 to $253.00 in a report released on Friday, Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Truist Financial's target price suggests a potential upside of 15.51% from the company's previous close.

A number of other equities research analysts have also weighed in on AVY. Raymond James reissued an "outperform" rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a report on Thursday. Robert W. Baird upped their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday. Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a "neutral" rating in a research report on Thursday, April 4th. Bank of America downgraded shares of Avery Dennison from a "buy" rating to an "underperform" rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday. One research 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $224.00.

Avery Dennison Price Performance

Shares of NYSE AVY traded up $1.86 during mid-day trading on Friday, hitting $219.02. 556,567 shares of the company's stock traded hands, compared to its average volume of 444,945. The company's 50-day moving average is $215.51 and its two-hundred day moving average is $200.13. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.26. The company has a market capitalization of $17.64 billion, a P/E ratio of 31.99, a PEG ratio of 3.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. On average, equities analysts anticipate that Avery Dennison will post 9.26 EPS for the current fiscal year.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the company's stock in a transaction that occurred on 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 owns 321,487 shares of the company's stock, valued at $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the company's stock in a transaction that occurred on 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 owns 321,487 shares of the company's stock, valued at $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the transaction, the senior vice president now directly owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Avery Dennison

A number of large investors have recently bought and sold shares of AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Avery Dennison in the third quarter worth $32,000. Milestone Investment Advisors LLC acquired a new stake in shares of Avery Dennison in the third quarter worth $36,000. Anchor Investment Management LLC acquired a new stake in Avery Dennison during the 4th quarter valued at $42,000. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison during the 4th quarter valued at $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 166 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.