ValuEngine Upgrades Avery Dennison (AVY) to “Hold”

ValuEngine upgraded shares of Avery Dennison (NYSE:AVY) from a sell rating to a hold rating in a research note released on Wednesday.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets set a $98.00 price target on Avery Dennison and gave the company a hold rating in a research report on Thursday, October 25th. They noted that the move was a valuation call. Barclays lowered their price target on Avery Dennison from $135.00 to $130.00 and set an overweight rating on the stock in a research report on Monday, October 29th. Citigroup lowered their price target on Avery Dennison from $128.00 to $122.00 and set a buy rating on the stock in a research report on Wednesday, October 24th. KeyCorp restated a hold rating on shares of Avery Dennison in a report on Tuesday, October 23rd. Finally, Zacks Investment Research upgraded Avery Dennison from a sell rating to a hold rating in a report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $120.25.

Shares of AVY stock opened at $91.97 on Wednesday. Avery Dennison has a 1 year low of $86.06 and a 1 year high of $123.67. The firm has a market cap of $8.14 billion, a PE ratio of 18.39, a PEG ratio of 2.22 and a beta of 1.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.71 and a current ratio of 1.00.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.02). Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts expect that Avery Dennison will post 6.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s payout ratio is 41.60%.

In related news, Director David E. I. Pyott sold 2,000 shares of Avery Dennison stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total value of $186,000.00. Following the transaction, the director now directly owns 17,293 shares in the company, valued at approximately $1,608,249. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Avery Dennison by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,807,709 shares of the industrial products company’s stock worth $1,062,666,000 after buying an additional 44,059 shares during the period. BlackRock Inc. boosted its position in shares of Avery Dennison by 0.5% in the third quarter. BlackRock Inc. now owns 6,460,278 shares of the industrial products company’s stock worth $699,971,000 after buying an additional 32,779 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Avery Dennison by 55.8% in the third quarter. JPMorgan Chase & Co. now owns 1,810,315 shares of the industrial products company’s stock worth $196,147,000 after buying an additional 648,126 shares during the period. Fiduciary Management Inc. WI boosted its position in shares of Avery Dennison by 48.8% in the third quarter. Fiduciary Management Inc. WI now owns 1,208,908 shares of the industrial products company’s stock worth $130,985,000 after buying an additional 396,245 shares during the period. Finally, Congress Asset Management Co. MA boosted its position in shares of Avery Dennison by 0.4% in the third quarter. Congress Asset Management Co. MA now owns 827,183 shares of the industrial products company’s stock worth $89,625,000 after buying an additional 3,073 shares during the period. Institutional investors and hedge funds own 83.98% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

Featured Article: Debt-To-Equity Ratio

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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