Barclays Cuts Avery Dennison (NYSE:AVY) Price Target to $225.00

Avery Dennison (NYSE:AVY) had its target price reduced by Barclays from $245.00 to $225.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on AVY. Bank of America decreased their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. BMO Capital Markets decreased their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday. Raymond James restated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $227.15.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $183.40 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market cap of $14.74 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. Avery Dennison has a 12-month low of $179.20 and a 12-month high of $233.48. The company’s fifty day simple moving average is $193.21 and its two-hundred day simple moving average is $205.88.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts expect that Avery Dennison will post 10.03 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is presently 40.37%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company’s 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 owns 7,126 shares in the company, valued at $1,467,956. This 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 at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Large investors have recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the fourth quarter worth $68,000. Venturi Wealth Management LLC grew its position in Avery Dennison by 32.4% during the 4th quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 1,100 shares during the last quarter. CIBC Asset Management Inc increased its stake in Avery Dennison by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company’s stock valued at $3,022,000 after purchasing an additional 553 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock worth $373,000 after buying an additional 1,097 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC acquired a new stake in shares of Avery Dennison during the fourth quarter worth $1,461,000. 94.17% of the stock is currently owned by institutional investors.

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.