Avery Dennison (NYSE:AVY) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Avery Dennison (NYSE:AVY) from a buy rating to a hold rating in a research report report published on Thursday morning.

AVY has been the topic of several other reports. Citigroup reduced their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $230.00 to $210.00 in a research report on Thursday. Stifel Nicolaus assumed coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective on the stock. Truist Financial upped their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays assumed coverage on Avery Dennison in a research report on Monday, October 7th. They issued an “overweight” rating and a $250.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $245.42.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $0.74 during trading on Thursday, reaching $205.70. The company had a trading volume of 139,437 shares, compared to its average volume of 462,578. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The stock’s fifty day moving average price is $216.85 and its 200 day moving average price is $218.53. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the company posted $2.10 earnings per share. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts predict that Avery Dennison will post 9.41 EPS for the current year.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in Avery Dennison by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock worth $290,050,000 after acquiring an additional 27,771 shares during the last quarter. Boston Partners boosted its position in Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after buying an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. boosted its position in Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after buying an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Avery Dennison by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after buying an additional 17,158 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

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.