Avery Dennison (NYSE:AVY) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Avery Dennison (NYSE:AVY – Get Rating) in a research report report published on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the company. Raymond James increased their price target on Avery Dennison from $190.00 to $205.00 and gave the company an outperform rating in a research note on Wednesday, January 25th. Bank of America raised Avery Dennison from a neutral rating to a buy rating and increased their price target for the company from $200.00 to $205.00 in a research note on Thursday, December 15th. UBS Group increased their price target on Avery Dennison from $183.00 to $194.00 and gave the company a neutral rating in a research note on Wednesday, January 11th. Truist Financial decreased their price target on Avery Dennison from $229.00 to $223.00 and set a buy rating for the company in a research note on Friday, February 3rd. Finally, BMO Capital Markets cut their target price on Avery Dennison from $240.00 to $233.00 and set an outperform rating on the stock in a research report on Monday, February 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $207.10.

Avery Dennison Price Performance

Shares of AVY opened at $166.47 on Thursday. Avery Dennison has a 12-month low of $151.62 and a 12-month high of $204.37. The business has a 50-day simple moving average of $183.52 and a two-hundred day simple moving average of $180.30. The company has a quick ratio of 0.63, a current ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market cap of $13.50 billion, a PE ratio of 18.07, a PEG ratio of 2.64 and a beta of 0.98.

Avery Dennison (NYSE:AVY – Get Rating) last issued its earnings results on Thursday, February 2nd. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.45). Avery Dennison had a return on equity of 38.05% and a net margin of 8.38%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the company earned $2.13 EPS. Avery Dennison’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts anticipate that Avery Dennison will post 9.27 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $3.00 annualized dividend and a yield of 1.80%. Avery Dennison’s payout ratio is currently 32.57%.

Insiders Place Their Bets

In other Avery Dennison news, Director Anthony Anderson sold 816 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $183.99, for a total value of $150,135.84. Following the transaction, the director now owns 558 shares in the company, valued at $102,666.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Avery Dennison news, Director Anthony Anderson sold 816 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $183.99, for a total value of $150,135.84. Following the transaction, the director now owns 558 shares in the company, valued at $102,666.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nicholas Colisto sold 3,842 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $180.43, for a total value of $693,212.06. Following the completion of the transaction, the senior vice president now owns 7,978 shares in the company, valued at approximately $1,439,470.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,458 shares of company stock worth $1,898,948. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AVY. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Avery Dennison by 434.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 139 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 113 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Avery Dennison during the fourth quarter valued at approximately $30,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Avery Dennison during the third quarter valued at approximately $33,000. Eagle Bay Advisors LLC purchased a new stake in shares of Avery Dennison during the second quarter valued at approximately $33,000. Finally, Hanson & Doremus Investment Management increased its position in shares of Avery Dennison by 494.3% during the third quarter. Hanson & Doremus Investment Management now owns 208 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Avery Dennison Company Profile

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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.