Avery Dennison (AVY) Price Target Raised to $140.00 at Barclays

Avery Dennison (NYSE:AVY) had its price target increased by analysts at Barclays from $135.00 to $140.00 in a research report issued on Monday. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays’ target price would suggest a potential upside of 20.69% from the stock’s current price.

AVY has been the subject of several other reports. UBS Group began coverage on Avery Dennison in a research note on Thursday, January 18th. They set a “buy” rating and a $135.00 target price for the company. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Bank of America upped their price objective on Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised Avery Dennison from an “underweight” rating to a “neutral” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $122.75.

Avery Dennison (AVY) traded up $4.54 on Monday, reaching $116.00. The company had a trading volume of 617,271 shares, compared to its average volume of 704,736. Avery Dennison has a 1 year low of $78.47 and a 1 year high of $123.67. The firm has a market cap of $9,812.53, a PE ratio of 36.77, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted $0.99 EPS. Avery Dennison’s revenue for the quarter was up 11.9% on a year-over-year basis. equities research analysts anticipate that Avery Dennison will post 5.88 EPS for the current year.

In related news, CAO Lori J. Bondar sold 10,855 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $110.88, for a total value of $1,203,602.40. Following the completion of the sale, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $108.42, for a total value of $433,680.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,855 shares of company stock valued at $1,866,802. Insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AVY. Thrivent Financial For Lutherans boosted its position in shares of Avery Dennison by 0.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,640 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 40 shares during the period. FMR LLC raised its stake in Avery Dennison by 47.4% during the 2nd quarter. FMR LLC now owns 428,222 shares of the industrial products company’s stock valued at $37,842,000 after acquiring an additional 137,788 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Avery Dennison by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 597,274 shares of the industrial products company’s stock valued at $52,781,000 after acquiring an additional 6,544 shares during the last quarter. Janus Henderson Group PLC raised its stake in Avery Dennison by 8.3% during the 2nd quarter. Janus Henderson Group PLC now owns 231,853 shares of the industrial products company’s stock valued at $20,489,000 after acquiring an additional 17,778 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Avery Dennison by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 106,479 shares of the industrial products company’s stock valued at $9,411,000 after acquiring an additional 12,377 shares during the last quarter. 85.62% of the stock is owned by hedge funds and other institutional investors.

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Avery Dennison Company Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

Analyst Recommendations for Avery Dennison (NYSE:AVY)

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