Avery Dennison Corp Receives “Neutral” Rating from Zacks (AVY)
Avery Dennison Corp (NYSE:AVY)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Friday. They currently have a $52.00 price objective on the stock. Zacks‘s target price suggests a potential upside of 4.54% 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 first-quarter earnings improved 10% year over year to $0.65 per share. The company reiterated its full-year 2014 adjusted earnings in the range of $2.90 to $3.20 per share. It remains committed to its target of sales growth in the range of 3% to 5% and net income growth of 10-15% by 2015. Avery will continue to benefit from product introductions, growth in emerging markets, progress in the RFID (radio-frequency identification) business, cost reduction and productivity improvements. Furthermore, share repurchases will also boost Avery’s earnings. However, inflationary raw materials costs and the loss-making medical business remain concerns.”
Separately, analysts at JPMorgan Chase & Co. upgraded shares of Avery Dennison Corp from a “neutral” rating to an “overweight” rating in a research note on Friday, May 30th. They now have a $58.00 price target on the stock, up previously from $52.00. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $54.57.
Shares of Avery Dennison Corp (NYSE:AVY) traded up 0.53% on Friday, hitting $49.74. The stock had a trading volume of 617,404 shares. 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 $48.74 and a 200-day moving average of $49.5. The company has a market cap of $4.735 billion and a price-to-earnings ratio of 21.45.
Avery Dennison Corp (NYSE:AVY) last announced its 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. On average, analysts predict that Avery Dennison Corp will post $3.04 earnings per share for the current fiscal year.
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.