Stifel Nicolaus Begins Coverage on Avery Dennison (NYSE:AVY)

Research analysts at Stifel Nicolaus started coverage on shares of Avery Dennison (NYSE:AVY) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $274.60 price target on the industrial products company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 26.87% from the stock’s previous close.

AVY has been the topic of a number of other reports. Citigroup upped their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday. Argus upped their price target 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. Raymond James reiterated an “outperform” rating and issued a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Truist Financial upped their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.15.

Avery Dennison Stock Up 1.6 %

Shares of Avery Dennison stock opened at $216.44 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The company’s fifty day simple moving average is $224.12 and its two-hundred day simple moving average is $214.37. The company has a market cap of $17.43 billion, a P/E ratio of 31.60, a PEG ratio of 1.98 and a beta of 0.88. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $231.53.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Research analysts anticipate that Avery Dennison will post 9.32 EPS for the current year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the transaction, the senior vice president now owns 1,577 shares in the company, valued at approximately $359,824.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $227.20, for a total transaction of $657,516.80. Following the sale, the chief financial officer now owns 67,457 shares in the company, valued at approximately $15,326,230.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the sale, the senior vice president now owns 1,577 shares in the company, valued at approximately $359,824.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,583 shares of company stock worth $2,856,353. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new stake in Avery Dennison during the 4th quarter worth approximately $42,000. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison during the fourth quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Avery Dennison during the first quarter valued at approximately $64,000. Finally, Versant Capital Management Inc raised its position in shares of Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after buying an additional 281 shares during the last quarter. 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.