Truist Financial Has Lowered Expectations for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY) had its target price lowered by stock analysts at Truist Financial from $258.00 to $245.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target points to a potential upside of 32.37% from the stock’s current price.

A number of other equities analysts have also recently weighed in on AVY. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Citigroup cut their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Barclays lowered their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, BMO Capital Markets cut their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Avery Dennison Stock Performance

NYSE:AVY opened at $185.09 on Monday. The business’s 50-day moving average price is $198.61 and its two-hundred day moving average price is $210.27. The stock has a market cap of $14.87 billion, a P/E ratio of 22.22, a PEG ratio of 1.52 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison has a twelve month low of $181.99 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping 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 firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm 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, equities analysts predict that Avery Dennison will post 9.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares in the last quarter. World Investment Advisors LLC raised its holdings in Avery Dennison by 2,629.0% in the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after purchasing an additional 88,491 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in Avery Dennison by 51.9% during the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after buying an additional 81,993 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Avery Dennison by 3,517.1% during the 2nd quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock valued at $17,701,000 after buying an additional 78,748 shares in 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.