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

Avery Dennison (NYSE:AVY) had its price target dropped by stock analysts at Barclays from $250.00 to $245.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential upside of 17.45% from the company’s current price.

Several other research analysts also recently commented on the stock. Citigroup dropped their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Stifel Nicolaus began coverage on Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $210.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Stock Performance

NYSE:AVY traded up $1.44 during mid-day trading on Monday, hitting $208.60. 28,793 shares of the company traded hands, compared to its average volume of 463,726. The stock’s fifty day moving average price is $216.73 and its 200-day moving average price is $218.44. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. Avery Dennison has a one year low of $170.42 and a one year high of $233.48.

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

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction 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 transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were 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 directly owns 304,114 shares in the company, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock valued at $12,545,087 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Avery Dennison

Several large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Avery Dennison by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 191,830 shares of the industrial products company’s stock valued at $42,826,000 after purchasing an additional 1,011 shares during the period. Norden Group LLC increased its holdings in shares of Avery Dennison by 1,938.6% during the 1st quarter. Norden Group LLC now owns 82,076 shares of the industrial products company’s stock worth $18,322,000 after buying an additional 78,050 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after buying an additional 48 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in Avery Dennison by 12.2% in the first quarter. First Trust Direct Indexing L.P. now owns 1,344 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 146 shares during the last quarter. Finally, Hartline Investment Corp purchased a new position in Avery Dennison in the first quarter worth approximately $222,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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.