Robert W. Baird Reaffirms Buy Rating for Avery Dennison Corporation (AVY)

Robert W. Baird reiterated their buy rating on shares of Avery Dennison Corporation (NYSE:AVY) in a research report released on Friday. They currently have a $115.00 price target on the industrial products company’s stock.

AVY has been the topic of a number of other research reports. KeyCorp reaffirmed a hold rating on shares of Avery Dennison Corporation in a report on Friday, September 22nd. Loop Capital increased their target price on Avery Dennison Corporation from $99.00 to $106.00 and gave the stock a hold rating in a report on Thursday, October 26th. Zacks Investment Research downgraded Avery Dennison Corporation from a hold rating to a sell rating in a report on Tuesday, October 17th. Citigroup Inc. increased their target price on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a buy rating in a report on Wednesday, July 26th. Finally, J P Morgan Chase & Co downgraded Avery Dennison Corporation from an overweight rating to a neutral rating in a report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $105.29.

Shares of Avery Dennison Corporation (NYSE AVY) opened at 105.32 on Friday. The stock has a market cap of $9.31 billion, a PE ratio of 24.74 and a beta of 1.19. Avery Dennison Corporation has a 52 week low of $68.68 and a 52 week high of $106.24. The firm has a 50-day moving average price of $99.75 and a 200-day moving average price of $91.35.

Avery Dennison Corporation (NYSE:AVY) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.49% and a net margin of 6.27%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $1.01 EPS. Avery Dennison Corporation’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Avery Dennison Corporation will post $4.88 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio (DPR) is 40.18%.

In related news, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $94.00, for a total value of $188,000.00. Following the sale, the director now owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David E. I. Pyott sold 298 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $94.00, for a total value of $28,012.00. Following the completion of the sale, the director now directly owns 16,601 shares in the company, valued at approximately $1,560,494. The disclosure for this sale can be found here. In the last three months, insiders sold 42,298 shares of company stock worth $4,297,712. Company insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AVY. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Avery Dennison Corporation in the 1st quarter worth approximately $1,027,000. Xact Kapitalforvaltning AB raised its stake in Avery Dennison Corporation by 2.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 15,170 shares of the industrial products company’s stock valued at $1,341,000 after acquiring an additional 359 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Avery Dennison Corporation during the 2nd quarter valued at $442,000. Atria Investments LLC bought a new stake in Avery Dennison Corporation during the 2nd quarter valued at $515,000. Finally, Private Trust Co. NA raised its stake in Avery Dennison Corporation by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 5,327 shares of the industrial products company’s stock valued at $470,000 after acquiring an additional 28 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Corporation Company Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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