Avery Dennison (NYSE:AVY) Price Target Lowered to $220.00 at Bank of America

Avery Dennison (NYSE:AVY) had its target price dropped by investment analysts at Bank of America from $238.00 to $220.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s target price would indicate a potential upside of 16.43% from the stock’s current price.

A number of other equities analysts also recently weighed in on AVY. Truist Financial dropped their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Barclays dropped their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.05.

Avery Dennison Price Performance

Shares of AVY traded up $3.87 during trading hours on Monday, hitting $188.96. 182,954 shares of the company were exchanged, compared to its average volume of 570,603. The firm has a fifty day simple moving average of $198.61 and a 200-day simple moving average of $210.27. The company has a market capitalization of $15.18 billion, a PE ratio of 22.68, a PEG ratio of 1.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison has a one year low of $181.99 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company earned $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Avery Dennison will post 9.42 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Avery Dennison

Several institutional investors have recently modified their holdings of AVY. Nordea Investment Management AB increased its holdings in Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after buying an additional 29,541 shares during the period. GAMMA Investing LLC raised its position in Avery Dennison by 30.0% in the fourth quarter. GAMMA Investing LLC now owns 2,202 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 508 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares during the period. Principal Financial Group Inc. boosted its holdings in Avery Dennison by 0.8% during the third quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock valued at $136,338,000 after purchasing an additional 4,670 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Avery Dennison by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 295,361 shares of the industrial products company’s stock worth $65,133,000 after buying an additional 15,159 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Company Profile

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.