Avery Dennison (NYSE:AVY) Issues FY 2024 Earnings Guidance

Avery Dennison (NYSE:AVY) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 9.350-9.500 for the period, compared to the consensus EPS estimate of 9.430. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AVY shares. Barclays assumed coverage on shares of Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target on the stock. Citigroup decreased their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Truist Financial upped their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets lowered their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.42.

Avery Dennison Stock Up 0.4 %

Shares of AVY stock traded up $0.74 during trading hours on Friday, reaching $205.70. The company had a trading volume of 139,437 shares, compared to its average volume of 462,578. The business has a fifty day simple moving average of $216.85 and a 200-day simple moving average of $218.53. Avery Dennison has a 12 month low of $165.21 and a 12 month high of $233.48. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the business posted $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts expect that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,108 shares of company stock worth $12,545,087. Company insiders own 1.10% of the company’s stock.

About Avery Dennison

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.