Short Interest in Avery Dennison Corp Increases By 70.7% (AVY)
Shares of Avery Dennison Corp (NYSE:AVY) were the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 1,908,263 shares, an increase of 70.7% from the April 15th total of 1,117,868 shares, Analyst Ratings Net reports. Based on an average daily trading volume, of 935,501 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.0% of the shares of the stock are short sold.
A number of analysts have recently weighed in on AVY shares. Analysts at Zacks reiterated a “neutral” rating on shares of Avery Dennison Corp in a research note on Thursday, April 24th. They now have a $52.00 price target on the stock. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.00.
Avery Dennison Corp (NYSE:AVY) opened at 48.20 on Monday. Avery Dennison Corp has a 52 week low of $40.71 and a 52 week high of $52.24. The stock has a 50-day moving average of $49.03 and a 200-day moving average of $49.35. The company has a market cap of $4.589 billion and a price-to-earnings ratio of 20.91.
Avery Dennison Corp (NYSE:AVY) last issued its quarterly earnings data 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. On average, analysts predict that Avery Dennison Corp will post $3.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 18th. Stockholders 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 2.90%. The ex-dividend date is Monday, June 2nd. This is a boost from Avery Dennison Corp’s previous quarterly dividend of $0.29.
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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