Avery Dennison (NYSE:AVY) Price Target Cut to $189.00 by Analysts at UBS Group

Avery Dennison (NYSE:AVY) had its price objective dropped by analysts at UBS Group from $207.00 to $189.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price points to a potential upside of 14.03% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.87.

Avery Dennison Trading Down 2.6 %

Shares of Avery Dennison stock traded down $4.50 during trading hours on Monday, hitting $165.75. The company’s stock had a trading volume of 1,153,453 shares, compared to its average volume of 555,603. The business has a fifty day moving average of $181.82 and a 200 day moving average of $194.99. Avery Dennison has a 1-year low of $162.60 and a 1-year high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $13.09 billion, a PE ratio of 19.09, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities analysts forecast that Avery Dennison will post 9.96 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenleaf Trust boosted its holdings in shares of Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 58 shares during the period. HBK Sorce Advisory LLC boosted its holdings in shares of Avery Dennison by 0.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after acquiring an additional 58 shares in the last quarter. RMR Wealth Builders increased its stake in shares of Avery Dennison by 5.7% during the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 59 shares during the period. Finally, Baker Avenue Asset Management LP raised its holdings in Avery Dennison by 5.7% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 59 shares in 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.