Avery Dennison (NYSE:AVY) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Friday, The Fly reports. The analysts noted that the move was a valuation call.
AVY has been the topic of several other research reports. Zacks Investment Research downgraded Avery Dennison from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Citigroup decreased their target price on Avery Dennison from $122.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. ValuEngine raised Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. UBS Group set a $135.00 target price on Avery Dennison and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, BMO Capital Markets lifted their price objective on Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $119.50.
Shares of AVY opened at $110.12 on Friday. The company has a market cap of $9.23 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.40 and a beta of 1.39. Avery Dennison has a 12-month low of $82.89 and a 12-month high of $116.35. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.83 and a current ratio of 1.15.
Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.79 billion. Avery Dennison had a return on equity of 52.22% and a net margin of 6.53%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. On average, equities analysts expect that Avery Dennison will post 6.57 EPS for the current year.
In other Avery Dennison news, Director Dean A. Scarborough sold 100,000 shares of Avery Dennison stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $109.17, for a total value of $10,917,000.00. Following the sale, the director now owns 51,183 shares of the company’s stock, valued at approximately $5,587,648.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Georges Gravanis sold 14,000 shares of Avery Dennison stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $110.66, for a total value of $1,549,240.00. Following the completion of the sale, the insider now directly owns 13,898 shares in the company, valued at approximately $1,537,952.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,664 shares of company stock worth $25,593,024. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC boosted its holdings in shares of Avery Dennison by 90.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 136 shares during the period. CSat Investment Advisory L.P. boosted its holdings in shares of Avery Dennison by 60.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 129 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Avery Dennison in the 4th quarter worth approximately $40,000. Bremer Trust National Association purchased a new position in shares of Avery Dennison in the 4th quarter worth approximately $42,000. Finally, Ipswich Investment Management Co. Inc. purchased a new position in shares of Avery Dennison in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.
About Avery Dennison
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.
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