Avery Dennison (NYSE:AVY) Downgraded to “Neutral” at UBS Group

UBS Group cut shares of Avery Dennison (NYSE:AVY) from a buy rating to a neutral rating in a research note published on Thursday, Marketbeat Ratings reports. UBS Group currently has $235.00 price objective on the industrial products company’s stock, down from their prior price objective of $262.00.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an outperform rating in a research report on Friday, June 7th. Raymond James reiterated an outperform rating and set a $240.00 target price (up from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Citigroup upped their price target on Avery Dennison from $230.00 to $241.00 and gave the stock a neutral rating in a research note on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $218.00 to $220.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets cut their target price on Avery Dennison from $256.00 to $254.00 and set an outperform rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $239.96.

Avery Dennison Stock Down 2.6 %

AVY stock opened at $209.10 on Thursday. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The business’s 50 day moving average price is $223.09 and its two-hundred day moving average price is $215.77. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 34.05% and a net margin of 7.34%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 earnings per share. As a group, analysts forecast that Avery Dennison will post 9.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the sale, the insider now owns 2,259 shares of the company’s stock, valued at approximately $499,939.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 584 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the transaction, the senior vice president now owns 1,577 shares in the company, valued at $359,824.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,583 shares of company stock valued at $2,856,353. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently made changes to their positions in AVY. Bailard Inc. grew its position in Avery Dennison by 0.5% during the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after buying an additional 61 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Avery Dennison by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after acquiring an additional 17,158 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Avery Dennison by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 7,174 shares of the industrial products company’s stock valued at $1,569,000 after acquiring an additional 127 shares during the period. JB Capital LLC increased its stake in shares of Avery Dennison by 9.6% in the 2nd quarter. JB Capital LLC now owns 13,645 shares of the industrial products company’s stock worth $2,984,000 after purchasing an additional 1,200 shares in the last quarter. Finally, GYL Financial Synergies LLC raised its holdings in Avery Dennison by 17.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,233 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 179 shares during the period. Hedge funds and other 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.