Avery Dennison (NYSE:AVY) Given New $210.00 Price Target at Truist Financial

Avery Dennison (NYSE:AVY - Get Free Report) had its target price dropped by investment analysts at Truist Financial from $215.00 to $210.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's target price suggests a potential upside of 23.18% from the company's previous close.

Several other equities analysts also recently commented on AVY. Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Barclays dropped their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. UBS Group reduced their price target on 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, Bank of America dropped their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $209.80.

Avery Dennison Stock Performance

Avery Dennison stock traded down $3.14 during mid-day trading on Tuesday, hitting $170.48. 694,913 shares of the company's stock traded hands, compared to its average volume of 593,427. Avery Dennison has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.07 and a beta of 0.85. The firm has a 50 day simple moving average of $176.49 and a two-hundred day simple moving average of $189.62. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. On average, research analysts expect that Avery Dennison will post 9.96 EPS for the current fiscal year.

Insider Transactions at Avery Dennison

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

Institutional Trading of Avery Dennison

A number of hedge funds have recently added to or reduced their stakes in AVY. Vanguard Group Inc. boosted its holdings in shares of Avery Dennison by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after acquiring an additional 33,149 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Avery Dennison by 3.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock valued at $790,683,000 after purchasing an additional 150,572 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after purchasing an additional 250,359 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Avery Dennison by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock worth $392,445,000 after purchasing an additional 13,815 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Avery Dennison by 4.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock valued at $344,603,000 after buying an additional 71,435 shares during the period. Institutional investors and hedge funds 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.