Avery Dennison Corp Rating Reiterated by Zacks (AVY)
Avery Dennison Corp (NYSE:AVY)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. They currently have a $52.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 6.10% from the company’s current price.
Zacks’ analyst wrote, “We reiterate our Neutral recommendation on Avery Dennison with a target price of $52. Avery’s adjusted earnings improved 10% year over year to $0.65 per share in the first quarter of 2014. The results, however, missed the Zacks Consensus Estimate by a penny. Avery reiterated its full-year 2014 adjusted earnings in the range of $2.90 to $3.20 per share. The company upwardly revised its 2015 target of sales growth in the range of 3% – 5% to 3.5% 5%. Avery will benefit from innovation and differentiated quality and services. Furthermore, share repurchases will also provide a boost to Avery’s earnings. However, unfavorable product mix and inflationary raw materials remain concerns.”
AVY has been the subject of a number of other recent research reports. Analysts at Bank of America set a $59.00 price target on shares of Avery Dennison Corp in a research note on Tuesday, March 4th. Finally, analysts at Barclays raised their price target on shares of Avery Dennison Corp from $50.00 to $52.00 in a research note on Monday, February 3rd. They now have an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.00.
Shares of Avery Dennison Corp (NYSE:AVY) traded down 0.91% on Thursday, hitting $49.01. The stock had a trading volume of 1,197,873 shares. Avery Dennison Corp has a 52-week low of $39.72 and a 52-week high of $52.24. The stock has a 50-day moving average of $50.49 and a 200-day moving average of $48.85. The company has a market cap of $4.705 billion and a price-to-earnings ratio of 22.95.
Avery Dennison Corp (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Avery Dennison Corp will post $3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.86%.
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.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.