Avery Dennison (NYSE:AVY) Now Covered by Stifel Nicolaus

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

A number of other analysts also recently issued reports on the stock. Argus boosted their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Raymond James reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Citigroup upped their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday. Finally, 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 report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $237.15.

Avery Dennison Stock Up 1.6 %

Shares of AVY opened at $216.44 on Tuesday. Avery Dennison has a 52 week low of $165.21 and a 52 week high of $231.53. The firm has a market cap of $17.43 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. The firm’s 50-day simple moving average is $224.12 and its 200 day simple moving average is $214.37. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The firm had revenue of $2.15 billion during 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%. On average, analysts forecast that Avery Dennison will post 9.32 earnings per share for the current year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the company’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 value of $657,516.80. Following the completion of the transaction, the chief financial officer now directly owns 67,457 shares in the company, valued at approximately $15,326,230.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the company’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 value of $657,516.80. Following the completion of the transaction, the chief financial officer now directly owns 67,457 shares in the company, valued at approximately $15,326,230.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Francisco Melo sold 3,750 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $227.00, for a total transaction of $851,250.00. Following the sale, the insider now owns 15,230 shares of the company’s stock, valued at $3,457,210. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,583 shares of company stock worth $2,856,353. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

Several large investors have recently modified their holdings of AVY. Cerity Partners LLC increased its position in shares of Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after buying an additional 1,163,264 shares during the period. Norges Bank bought a new position in Avery Dennison during the fourth quarter worth $185,292,000. Morgan Stanley boosted its stake in Avery Dennison by 55.7% during the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after acquiring an additional 639,521 shares in the last quarter. Swedbank AB bought a new position in Avery Dennison during the first quarter worth $102,117,000. Finally, Corient Private Wealth LLC boosted its stake in Avery Dennison by 1,429.4% during the fourth quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock worth $53,107,000 after acquiring an additional 245,520 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.