Raymond James Cuts Avery Dennison (NYSE:AVY) Price Target to $194.00

Avery Dennison (NYSE:AVY) had its target price cut by Raymond James from $208.00 to $194.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on AVY. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.63.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $173.62 on Tuesday. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The business’s 50 day simple moving average is $176.76 and its 200-day simple moving average is $190.10. Avery Dennison has a 12 month low of $157.00 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts forecast that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.03%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Avery Dennison by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company’s stock valued at $1,811,738,000 after purchasing an additional 33,149 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Avery Dennison by 3.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company’s stock valued at $790,683,000 after purchasing an additional 150,572 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock valued at $409,014,000 after purchasing an additional 250,359 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Avery Dennison by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company’s stock worth $392,445,000 after purchasing an additional 13,815 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Avery Dennison by 4.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company’s stock valued at $344,603,000 after buying an additional 71,435 shares during the period. 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.