Citigroup Lowers Avery Dennison (NYSE:AVY) Price Target to $202.00

Avery Dennison (NYSE:AVY) had its target price decreased by equities research analysts at Citigroup from $228.00 to $202.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target points to a potential upside of 7.33% from the company’s previous close.

A number of other research analysts have also recently issued reports on AVY. Truist Financial decreased their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays cut their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Bank of America lowered their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.60.

Avery Dennison Price Performance

AVY stock traded up $3.11 during mid-day trading on Monday, hitting $188.20. The stock had a trading volume of 780,392 shares, compared to its average volume of 680,007. The firm has a fifty day simple moving average of $198.61 and a 200 day simple moving average of $210.15. The firm has a market capitalization of $15.12 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.52 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 52 week low of $181.99 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 earnings per share. As a group, research analysts forecast that Avery Dennison will post 9.42 EPS for the current year.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the last quarter. Victory Capital Management Inc. raised its stake in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares during the period. World Investment Advisors LLC lifted its holdings in Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after purchasing an additional 88,491 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in Avery Dennison by 51.9% during the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after purchasing an additional 81,993 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Avery Dennison by 3,517.1% in the second quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock worth $17,701,000 after purchasing an additional 78,748 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.