Truist Financial Has Lowered Expectations for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY) had its price objective lowered by equities researchers at Truist Financial from $258.00 to $245.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective suggests a potential upside of 31.26% from the company’s previous close.

Other analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.60.

Avery Dennison Trading Down 0.7 %

Shares of AVY stock opened at $186.65 on Monday. The stock has a market capitalization of $15.00 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.52 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $198.23 and its 200 day moving average is $209.88. Avery Dennison has a 12-month low of $181.99 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. Research analysts expect that Avery Dennison will post 9.42 earnings per share for the current year.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AVY. Intech Investment Management LLC grew its stake in shares of Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after buying an additional 50 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after acquiring an additional 55 shares during the last quarter. Procyon Advisors LLC increased its stake in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 56 shares during the last quarter. Lindenwold Advisors INC raised its position in Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after purchasing an additional 59 shares during the period. Finally, Cynosure Group LLC lifted its stake in shares of Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 59 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other 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.