Avery Dennison (AVY) Upgraded at JPMorgan Chase & Co.

Avery Dennison (NYSE:AVY) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat Ratings reports.

Other analysts also recently issued reports about the stock. UBS Group assumed coverage on shares of Avery Dennison in a research report on Thursday, January 18th. They issued a “buy” rating and a $135.00 target price for the company. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Barclays boosted their target price on shares of Avery Dennison from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Robert W. Baird reissued a “buy” rating and issued a $115.00 target price on shares of Avery Dennison in a research report on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Avery Dennison has an average rating of “Buy” and an average price target of $122.75.

Shares of Avery Dennison (AVY) traded up $4.19 on Monday, reaching $115.65. 989,084 shares of the company were exchanged, compared to its average volume of 684,158. Avery Dennison has a 52-week low of $78.47 and a 52-week high of $123.67. The stock has a market capitalization of $10,180.00, a P/E ratio of 36.95, a PEG 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 announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. equities analysts predict that Avery Dennison will post 5.88 earnings per share for the current year.

In related news, Director Julia A. Stewart sold 4,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $108.42, for a total transaction of $433,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lori J. Bondar sold 10,855 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the sale, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at $2,057,489.28. 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. 1.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ETRADE Capital Management LLC raised its stake in Avery Dennison by 12.8% during the 3rd quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock valued at $2,061,000 after purchasing an additional 2,377 shares during the last quarter. Piedmont Investment Advisors LLC raised its stake in Avery Dennison by 77.6% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,384,000 after purchasing an additional 19,479 shares during the last quarter. KAMES CAPITAL plc acquired a new position in Avery Dennison during the 4th quarter valued at $71,586,000. Aurora Investment Counsel acquired a new position in Avery Dennison during the 4th quarter valued at $565,000. Finally, IFM Investors Pty Ltd acquired a new position in Avery Dennison during the 3rd quarter valued at $317,000. 85.62% of the stock is owned by institutional investors and hedge funds.

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About Avery Dennison

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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