Barclays Trims Avery Dennison (NYSE:AVY) Target Price to $245.00

Avery Dennison (NYSE:AVY) had its target price lowered by analysts at Barclays from $250.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential upside of 17.45% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $210.00 in a research note on Thursday. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Price Performance

NYSE:AVY traded up $1.44 on Monday, hitting $208.60. The company had a trading volume of 28,793 shares, compared to its average volume of 463,726. The firm has a 50 day moving average of $216.73 and a two-hundred day moving average of $218.44. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison has a 52 week low of $170.42 and a 52 week high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the business posted $2.10 EPS. Avery Dennison’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Avery Dennison

A number of institutional investors and hedge funds have recently modified their holdings of the business. Taylor Frigon Capital Management LLC increased its holdings in Avery Dennison by 0.8% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares in the last quarter. Intech Investment Management LLC lifted its position in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares during the period. Procyon Advisors LLC boosted its holdings in Avery Dennison by 4.0% in the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 56 shares during the last quarter. Bailard Inc. grew its position in Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after purchasing an additional 61 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock worth $327,000 after buying an additional 64 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.