Avery Dennison (AVY) Earns Market Perform Rating from Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Avery Dennison (NYSE:AVY) in a research note released on Tuesday. The brokerage issued a market perform rating and a $120.00 price target on the industrial products company’s stock.

Several other equities research analysts have also issued reports on the stock. Barclays lifted their price target on shares of Avery Dennison from $135.00 to $140.00 and gave the company an overweight rating in a report on Monday, February 12th. UBS began coverage on shares of Avery Dennison in a report on Thursday, January 18th. They set a buy rating and a $135.00 target price on the stock. Bank of America boosted their target price on shares of Avery Dennison from $128.00 to $133.00 and gave the stock a buy rating in a report on Thursday, February 1st. Zacks Investment Research lowered shares of Avery Dennison from a buy rating to a hold rating in a report on Friday, January 5th. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from a neutral rating to an underweight rating and set a $113.00 target price on the stock. in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Avery Dennison currently has a consensus rating of Buy and a consensus price target of $121.78.

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Shares of Avery Dennison stock opened at $106.25 on Tuesday. The company has a market cap of $9,342.33, a P/E ratio of 21.21, a P/E/G ratio of 2.58 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. Avery Dennison has a 1 year low of $79.13 and a 1 year high of $123.67.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.08. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. equities research analysts forecast that Avery Dennison will post 5.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, March 6th. Avery Dennison’s payout ratio is 36.00%.

In other news, VP Anne Hill sold 21,134 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.07, for a total value of $2,495,291.38. Following the transaction, the vice president now owns 41,863 shares in the company, valued at approximately $4,942,764.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dean A. Scarborough sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $105.29, for a total transaction of $3,158,700.00. Following the completion of the transaction, the director now owns 76,953 shares in the company, valued at approximately $8,102,381.37. The disclosure for this sale can be found here. Insiders have sold a total of 160,383 shares of company stock worth $17,649,090 over the last three months. Insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. West Oak Capital LLC lifted its position in shares of Avery Dennison by 114.3% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 800 shares during the period. Focused Wealth Management Inc acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $184,000. Univest Corp of Pennsylvania acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $205,000. Bank of Stockton acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $206,000. Finally, Meridian Investment Counsel Inc. acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 85.95% of the company’s stock.

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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.

Analyst Recommendations for Avery Dennison (NYSE:AVY)

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