Avery Dennison’s (AVY) “Buy” Rating Reaffirmed at Truist Financial

Avery Dennison (NYSE:AVY)‘s stock had its “buy” rating reissued by investment analysts at Truist Financial in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $215.00 price objective on the industrial products company’s stock, down from their prior price objective of $245.00. Truist Financial’s price objective indicates a potential upside of 14.40% from the company’s current price.

AVY has been the topic of a number of other reports. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $210.00 to $205.00 in a research note on Friday. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $231.87.

Avery Dennison Price Performance

Shares of AVY traded up $5.45 during midday trading on Friday, hitting $187.94. The company’s stock had a trading volume of 309,685 shares, compared to its average volume of 719,637. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison has a one year low of $179.20 and a one year high of $233.48. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The company’s fifty day simple moving average is $193.54 and its two-hundred day simple moving average is $206.34.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. As a group, equities analysts expect that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insider Activity

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its position in Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock worth $373,000 after buying an additional 1,097 shares during the last quarter. Figure 8 Investment Strategies LLC bought a new stake in Avery Dennison during the 4th quarter valued at $1,461,000. Vontobel Holding Ltd. lifted its stake in Avery Dennison by 11.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 150 shares during the period. Howard Bailey Securities LLC grew its holdings in shares of Avery Dennison by 41.6% during the 4th quarter. Howard Bailey Securities LLC now owns 2,134 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 627 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Avery Dennison by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 14,521 shares of the industrial products company’s stock valued at $2,717,000 after purchasing an additional 1,302 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

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.