Barclays Increases Avery Dennison Corp. Price Target to $52.00 (AVY)
Equities research analysts at Barclays increased their price objective on shares of Avery Dennison Corp. (NYSE:AVY) from $50.00 to $52.00 in a research note issued to investors on Monday, StockRatingsNetwork reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target suggests a potential upside of 8.76% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets upgraded shares of Avery Dennison Corp. from a “hold” rating to a “buy” rating in a research note to investors on Friday, January 10th. They now have a $59.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Robert W. Baird upgraded shares of Avery Dennison Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, January 9th. They now have a $57.00 price target on the stock, up previously from $52.00. They noted that the move was a valuation call. Finally, analysts at Ned Davis Research upgraded shares of Avery Dennison Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Avery Dennison Corp. presently has an average rating of “Hold” and an average target price of $52.50.
Shares of Avery Dennison Corp. (NYSE:AVY) traded down 2.96% during mid-day trading on Monday, hitting $47.81. The stock had a trading volume of 1,273,573 shares. Avery Dennison Corp. has a 1-year low of $38.46 and a 1-year high of $52.17. The stock has a 50-day moving average of $50.04 and a 200-day moving average of $46.51. The company has a market cap of $4.709 billion and a P/E ratio of 22.86.
Avery Dennison Corp. (NYSE:AVY) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.01. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Avery Dennison Corp. will post $3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, March 3rd.
Avery Dennison Corporation (NYSE:AVY), is engaged in the production of pressure-sensitive materials, and a variety of tickets, tags, labels other converted products, and office and consumer products through embossing, printing, stamping and die-cutting.
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