Avery Dennison (AVY) Coverage Initiated by Analysts at UBS Group

Investment analysts at UBS Group started coverage on shares of Avery Dennison (NYSE:AVY) in a report released on Thursday. The brokerage set a “buy” rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Avery Dennison from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Monday, January 8th. Barclays increased their price objective on Avery Dennison from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison 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 note on Friday, October 27th. Finally, Loop Capital increased their target price on Avery Dennison from $99.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $112.83.

Shares of Avery Dennison (NYSE:AVY) opened at $118.88 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82. Avery Dennison has a 12-month low of $71.71 and a 12-month high of $120.32. The stock has a market capitalization of $10,470.00, a price-to-earnings ratio of 26.54, a P/E/G ratio of 3.07 and a beta of 1.24.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $1.01 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. analysts expect that Avery Dennison will post 4.93 EPS for the current fiscal year.

In related news, CAO Lori J. Bondar sold 10,855 shares of the stock in a transaction on 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 transaction, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter K. Barker sold 2,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the transaction, the director now directly owns 26,703 shares in the company, valued at approximately $3,064,436.28. The disclosure for this sale can be found here. In the last three months, insiders sold 154,604 shares of company stock worth $16,475,271. 1.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. bought a new position in shares of Avery Dennison during the second quarter valued at about $207,000. Ameriprise Financial Inc. grew its stake in shares of Avery Dennison by 66.9% during the second quarter. Ameriprise Financial Inc. now owns 251,241 shares of the industrial products company’s stock valued at $22,210,000 after buying an additional 100,726 shares during the last quarter. Amalgamated Bank grew its stake in shares of Avery Dennison by 23.7% during the second quarter. Amalgamated Bank now owns 17,802 shares of the industrial products company’s stock valued at $1,573,000 after buying an additional 3,407 shares during the last quarter. Laurion Capital Management LP grew its stake in shares of Avery Dennison by 203.6% during the second quarter. Laurion Capital Management LP now owns 16,700 shares of the industrial products company’s stock valued at $1,475,000 after buying an additional 11,200 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Avery Dennison by 2.0% during the second quarter. ProShare Advisors LLC now owns 30,300 shares of the industrial products company’s stock valued at $2,678,000 after buying an additional 581 shares during the last quarter. 84.92% of the stock is currently 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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