Avery Dennison Co. (NYSE:AVY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Avery Dennison Co. (NYSE:AVY) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $239.96.

AVY has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Argus increased their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets cut their target price on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th.

Avery Dennison Stock Up 0.2 %

Shares of Avery Dennison stock opened at $212.97 on Monday. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88. The company’s 50 day moving average is $217.79 and its 200 day moving average is $217.32. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that Avery Dennison will post 9.39 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $206.82, for a total transaction of $620,460.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,896,857.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $206.82, for a total transaction of $620,460.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,896,857.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ignacio J. Walker sold 2,206 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the transaction, the senior vice president now directly owns 7,082 shares in the company, valued at approximately $1,605,489.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,939 shares of company stock worth $5,952,076. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its position in shares of Avery Dennison by 1,814.3% in the 2nd quarter. Quarry LP now owns 536 shares of the industrial products company’s stock worth $117,000 after buying an additional 508 shares during the last quarter. Coastal Bridge Advisors LLC purchased a new position in shares of Avery Dennison in the 2nd quarter worth approximately $269,000. NewEdge Advisors LLC grew its position in shares of Avery Dennison by 5.4% in the 2nd quarter. NewEdge Advisors LLC now owns 176,862 shares of the industrial products company’s stock worth $38,671,000 after buying an additional 9,088 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Avery Dennison in the 2nd quarter worth approximately $506,000. Finally, Mackenzie Financial Corp grew its position in Avery Dennison by 9.6% during the 2nd quarter. Mackenzie Financial Corp now owns 12,408 shares of the industrial products company’s stock worth $2,713,000 after purchasing an additional 1,090 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

About Avery Dennison

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.