Avery Dennison Corp (NYSE:AVY) has received a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $128.00.
A number of equities analysts recently issued reports on AVY shares. KeyCorp restated a “hold” rating on shares of Avery Dennison in a report on Friday, September 13th. Citigroup downgraded Avery Dennison from a “buy” rating to a “neutral” rating and upped their target price for the company from $132.00 to $136.00 in a report on Thursday, October 24th. Berenberg Bank started coverage on Avery Dennison in a research report on Thursday, August 15th. They issued a “buy” rating and a $130.00 price target for the company. Robert W. Baird lifted their price target on Avery Dennison from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Bank of America upgraded Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Friday, September 13th.
NYSE:AVY traded up $0.23 during trading hours on Friday, reaching $131.77. 513,116 shares of the company’s stock were exchanged, compared to its average volume of 578,715. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $10.98 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.44 and a beta of 1.32. Avery Dennison has a 12 month low of $82.89 and a 12 month high of $134.56. The business’s 50-day simple moving average is $122.81 and its two-hundred day simple moving average is $114.42.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, December 3rd. Avery Dennison’s payout ratio is 38.28%.
In other news, CAO Lori J. Bondar sold 4,500 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $126.00, for a total value of $567,000.00. Following the completion of the sale, the chief accounting officer now owns 12,928 shares of the company’s stock, valued at $1,628,928. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony Anderson sold 2,150 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $114.54, for a total value of $246,261.00. Following the completion of the sale, the director now directly owns 2,862 shares of the company’s stock, valued at approximately $327,813.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,181 shares of company stock worth $2,117,537. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc purchased a new position in Avery Dennison during the 3rd quarter valued at about $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Avery Dennison during the third quarter worth approximately $33,000. TRUE Private Wealth Advisors purchased a new position in Avery Dennison during the second quarter valued at approximately $40,000. Amica Retiree Medical Trust purchased a new position in Avery Dennison during the second quarter valued at approximately $44,000. Finally, CSat Investment Advisory L.P. increased its stake in Avery Dennison by 57.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock valued at $53,000 after buying an additional 168 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.
About Avery Dennison
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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