Analysts’ Weekly Ratings Updates for Avery Dennison Corporation (AVY)

Several brokerages have updated their recommendations and price targets on shares of Avery Dennison Corporation (NYSE: AVY) in the last few weeks:

  • 10/31/2017 – Avery Dennison Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Avery Dennison’s both top and bottom line improved year over year and surpassed the Zacks Consensus Estimates. Given the better-than-expected operating results, the company raised adjusted earnings per share guidance range to $4.90-$4.95. The midpoint of the guidance range reflects year-over-year growth of 23%. The company expected reported sales growth in the range of 8% for the full year. Its consistent execution of strategies continues to enhance competitive advantage while driving profitable growth. Focus on productivity, acquisitions, aggressive cost control and share repurchases will also drive results.  Its segments remain well poised for growth. Moreover, its shares have outperformed the industry year to date. However, raw material cost inflation and transition costs related to Yongle acquisition will dent margins in the near term.”
  • 10/30/2017 – Avery Dennison Corporation had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/30/2017 – Avery Dennison Corporation had its price target raised by analysts at Barclays PLC from $105.00 to $120.00. They now have an “overweight” rating on the stock.
  • 10/27/2017 – Avery Dennison Corporation had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $115.00 price target on the stock.
  • 10/27/2017 – Avery Dennison Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $117.00 price target on the stock. According to Zacks, “Avery Dennison’s both top and bottom line improved year over year and surpassed the Zacks Consensus Estimates. Given the better-than-expected operating results, the company raised adjusted earnings per share guidance range to $4.90-$4.95. The midpoint of the guidance range reflects year-over-year growth of 23%. The company expected reported sales growth in the range of 8% for the full year. Its consistent execution of strategies continues to enhance competitive advantage while driving profitable growth. Focus on productivity, acquisitions, aggressive cost control and share repurchases will also drive results.  Its segments remain well poised for growth. Moreover, its shares have outperformed the industry year to date.”
  • 10/26/2017 – Avery Dennison Corporation was downgraded by analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating.
  • 10/26/2017 – Avery Dennison Corporation had its price target raised by analysts at Loop Capital from $99.00 to $106.00. They now have a “hold” rating on the stock.
  • 10/17/2017 – Avery Dennison Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “For 2017, Avery Dennison expects earnings per share to lie in the range of $4.75–$4.90. The midpoint of the guidance range reflects a year-over-year growth of 20%. The company anticipates reported sales growth in the range of 7–8% for the full year, reflecting the impact of the Yongle and Finesse acquisitions and a smaller currency headwind. Its shares have underperformed the industry year to date. Its estimates have gone down lately. Transition costs related to acquisitions and raw material inflation remain headwinds for Avery Dennison's results in the near term. Following the Yongle and Finesse acquisitions, Avery Dennison’s net debt-to-EBITDA ratio has gone up closer to the high end of its target range.”
  • 9/28/2017 – Avery Dennison Corporation is now covered by analysts at Loop Capital. They set a “hold” rating and a $99.00 price target on the stock.
  • 9/26/2017 – Avery Dennison Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “For 2017, Avery Dennison expects earnings per share to lie in the range of $4.75–$4.90. The midpoint of the guidance range reflects a year-over-year growth of 20%. The company anticipates reported sales growth in the range of 7–8% for the full year, reflecting the impact of the Yongle and Finesse acquisitions and a smaller currency headwind. Further, focus on productivity, acquisitions, aggressive cost control and share repurchases will drive results. The company also has a positive record of earnings surprises in the last few quarters. Moreover, its shares have outperformed the industry year to date. Its estimates have gone up lately. However, transition costs related to acquisitions and raw material inflation remain headwinds for Avery Dennison's results in the near term.”
  • 9/22/2017 – Avery Dennison Corporation had its “hold” rating reaffirmed by analysts at KeyCorp.

Avery Dennison Corporation (NYSE:AVY) traded up 0.98% on Wednesday, hitting $107.21. 440,199 shares of the stock traded hands. The stock has a 50-day moving average of $100.09 and a 200-day moving average of $91.46. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 25.18 and a beta of 1.19. Avery Dennison Corporation has a 12-month low of $68.68 and a 12-month high of $107.41.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.49%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Analysts forecast that Avery Dennison Corporation will post $4.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio is 40.18%.

In other news, insider Dean A. Scarborough sold 20,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $105.00, for a total value of $2,100,000.00. Following the completion of the transaction, the insider now owns 94,042 shares in the company, valued at approximately $9,874,410. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Dean A. Scarborough sold 10,000 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $104.54, for a total transaction of $1,045,400.00. Following the completion of the transaction, the chairman now owns 94,042 shares of the company’s stock, valued at approximately $9,831,150.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,298 shares of company stock valued at $4,297,712. Corporate insiders own 1.40% of the company’s stock.

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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