UBS Group Has Lowered Expectations for Avery Dennison (NYSE:AVY) Stock Price

by · The Markets Daily

Avery Dennison (NYSE:AVY – Free Report) had its price target lowered by UBS Group from $235.00 to $207.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on AVY. BMO Capital Markets cut their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Barclays lowered their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.05.

Read Our Latest Stock Report on Avery Dennison

Avery Dennison Trading Down 1.5 %

Avery Dennison stock opened at $184.83 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 12-month low of $181.99 and a 12-month high of $233.48. The firm has a 50 day moving average of $196.62 and a 200 day moving average of $208.99. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm posted $2.10 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts predict that Avery Dennison will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.88 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.90%. Avery Dennison’s dividend payout ratio is presently 42.26%.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

Several institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC increased its stake in shares of Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after buying an additional 50 shares during the period. Empirical Finance LLC increased its stake in shares of Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the period. Procyon Advisors LLC increased its stake in shares of Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after buying an additional 56 shares during the period. Lindenwold Advisors INC increased its stake in shares of Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after buying an additional 59 shares during the period. Finally, Cynosure Group LLC grew its stake in Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Company Profile

(Get Free Report)

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.

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