Avery Dennison (NYSE:AVY) had its price objective lifted by Bank of America from $128.00 to $133.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the industrial products company’s stock. Bank of America’s price target would indicate a potential upside of 10.50% from the company’s current price.
Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price objective on the stock. in a research report on Thursday. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. UBS Group began coverage on shares of Avery Dennison in a research report on Thursday, January 18th. They issued a “buy” rating and a $135.00 price objective on the stock. Barclays boosted their price objective on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $120.75.
Shares of Avery Dennison (NYSE AVY) traded down $2.32 during midday trading on Thursday, hitting $120.36. 1,290,812 shares of the stock were exchanged, compared to its average volume of 631,387. The company has a market capitalization of $10,620.00, a PE ratio of 38.45, a price-to-earnings-growth ratio of 3.07 and a beta of 1.24. Avery Dennison has a 52 week low of $78.17 and a 52 week high of $123.67. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14.
In other Avery Dennison news, Chairman Dean A. Scarborough sold 4,280 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $108.35, for a total transaction of $463,738.00. Following the sale, the chairman now directly owns 54,042 shares of the company’s stock, valued at approximately $5,855,450.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Deon Stander sold 3,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $107.23, for a total transaction of $321,690.00. Following the sale, the vice president now directly owns 9,426 shares in the company, valued at $1,010,749.98. The disclosure for this sale can be found here. Insiders have sold a total of 30,535 shares of company stock worth $3,341,126 over the last three months. Insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. National Asset Management Inc. increased its stake in shares of Avery Dennison by 0.3% during the 2nd quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 12 shares during the last quarter. Veritable L.P. increased its stake in shares of Avery Dennison by 0.6% during the 2nd quarter. Veritable L.P. now owns 2,777 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 16 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Avery Dennison by 0.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,640 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 40 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Avery Dennison by 19.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,843 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 468 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its stake in shares of Avery Dennison by 6.1% during the 4th quarter. Sit Investment Associates Inc. now owns 8,265 shares of the industrial products company’s stock worth $949,000 after purchasing an additional 475 shares during the last quarter. Institutional investors own 85.48% of the company’s stock.
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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).
