StockNews.com Upgrades Avery Dennison (NYSE:AVY) to Buy

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

Other equities analysts also recently issued research reports about the stock. Raymond James upped their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. Truist Financial reissued a "buy" rating and set a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. JPMorgan Chase & Co. raised their target price on Avery Dennison from $185.00 to $218.00 and gave the stock an "overweight" rating in a research note on Thursday, February 1st. UBS Group boosted their price target on Avery Dennison from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, January 11th. Finally, Bank of America cut Avery Dennison from a "buy" rating to an "underperform" rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and a consensus price target of $221.00.

Avery Dennison Stock Up 0.1 %

NYSE:AVY traded up $0.20 during trading hours on Monday, reaching $211.77. The company's stock had a trading volume of 422,691 shares, compared to its average volume of 431,235. The stock has a 50 day moving average price of $215.07 and a two-hundred day moving average price of $199.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The company has a market capitalization of $17.05 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26.

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

Insider Activity at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Julia A. Stewart sold 5,311 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares of the company's stock, valued at $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares of the company's stock, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Avery Dennison during the third quarter worth $32,000. Milestone Investment Advisors LLC acquired a new stake in shares of Avery Dennison during the 3rd quarter worth about $36,000. Anchor Investment Management LLC purchased a new stake in Avery Dennison in the 4th quarter valued at about $42,000. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison in the fourth quarter valued at about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company's stock worth $54,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

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.

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