Barclays Lowers Avery Dennison (AVY) Price Target to $130.00

Avery Dennison (NYSE:AVY) had its target price reduced by stock analysts at Barclays from $135.00 to $130.00 in a research note issued on Monday. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays’ target price suggests a potential upside of 43.50% from the company’s current price.

Other analysts have also issued research reports about the company. Loop Capital set a $111.00 target price on Avery Dennison and gave the company a “hold” rating in a report on Friday, July 13th. BMO Capital Markets set a $98.00 target price on Avery Dennison and gave the company a “hold” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Citigroup lowered their target price on Avery Dennison from $128.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, October 24th. ValuEngine lowered Avery Dennison from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, Bank of America upped their target price on Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $120.25.

Avery Dennison stock opened at $90.59 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.08 and a beta of 1.26. Avery Dennison has a fifty-two week low of $86.06 and a fifty-two week high of $123.67.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.02). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. Equities analysts predict that Avery Dennison will post 6.04 EPS for the current year.

In related news, Director Anthony Anderson sold 1,275 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $104.75, for a total transaction of $133,556.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its stake in shares of Avery Dennison by 104.7% during the third quarter. Acadian Asset Management LLC now owns 13,830 shares of the industrial products company’s stock valued at $1,498,000 after acquiring an additional 7,073 shares during the last quarter. Adams Natural Resources Fund Inc. acquired a new stake in shares of Avery Dennison during the third quarter valued at $1,387,000. Assenagon Asset Management S.A. boosted its stake in shares of Avery Dennison by 1,483.8% during the third quarter. Assenagon Asset Management S.A. now owns 37,425 shares of the industrial products company’s stock valued at $4,055,000 after acquiring an additional 35,062 shares during the last quarter. Bell Asset Management Ltd acquired a new stake in shares of Avery Dennison during the third quarter valued at $5,963,000. Finally, Congress Asset Management Co. MA boosted its stake in shares of Avery Dennison by 0.4% during the third quarter. Congress Asset Management Co. MA now owns 827,183 shares of the industrial products company’s stock valued at $89,625,000 after acquiring an additional 3,073 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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