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

Shares of Avery Dennison Co. (NYSE:AVY) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $244.96.

AVY has been the subject of a number of research analyst reports. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Barclays dropped their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Citigroup dropped their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Avery Dennison in the second quarter valued at about $28,000. Larson Financial Group LLC boosted its stake in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison during the third quarter worth approximately $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the third quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison in the second quarter valued at $42,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 1.6 %

Shares of NYSE:AVY opened at $204.71 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm has a market cap of $16.45 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.56 and a beta of 0.89. The stock’s 50-day moving average price is $210.21 and its two-hundred day moving average price is $216.41. Avery Dennison has a 12-month low of $187.93 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last released its earnings results 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 net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the company earned $2.10 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts forecast that Avery Dennison will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.72%. Avery Dennison’s dividend payout ratio is currently 42.26%.

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.