JPMorgan Chase & Co. Upgrades Avery Dennison (NYSE:AVY) to “Overweight”

JPMorgan Chase & Co. upgraded shares of Avery Dennison (NYSE:AVY) from a neutral rating to an overweight rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm currently has $205.00 target price on the industrial products company’s stock, down from their prior target price of $210.00.

Other equities analysts have also recently issued research reports about the stock. Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets cut their price target 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, October 24th. Citigroup lowered their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Truist Financial lowered their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $228.96.

Avery Dennison Stock Performance

NYSE:AVY opened at $185.85 on Friday. The firm’s 50-day moving average is $193.54 and its 200-day moving average is $206.34. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.38 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison has a 52-week low of $179.20 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results 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 net margin of 7.76% and a return on equity of 33.01%. Equities research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.89%. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison during the 3rd quarter worth approximately $36,000. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the third quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. boosted its stake in Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.