BMO Capital Markets raises price target for Avery Dennison (NYSE: AVY) to $ 241.00
Avery Dennison (NYSE: AVY) had its target price high by BMO Capital Markets stock research analysts of $ 200.00 to $ 241.00 in a research note released Friday, Fly reports. The company currently has an “outperformance” rating on the stocks of the industrial products company. BMO Capital Markets’ target price would indicate a potential rise of 12.23% from the company’s current price.
A number of other research analysts have also recently published reports on AVY. S&P Equity Research Upgraded Avery Dennison from a ‘Neutral’ to a ‘Buy’ Rating and Raised its Share Price Target from $ 149.00 to $ 181.00 in a Report on Thursday, January 7 . Citigroup raised its price target on Avery Dennison from $ 219.00 to $ 243.00 in a report Thursday. Smith Barney Citigroup reiterated a “buy” note on Avery Dennison shares in a report on Thursday, January 7. Atlantic Securities reiterated a “neutral” rating on Avery Dennison shares in a report on Tuesday, March 23. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from an “underweight” rating to a “neutral” rating and increased its price target for the company from $ 155.00 to $ 215.00 in a report of research Thursday. Six research analysts rated the stock with a sustaining rating and seven gave the company’s stock a buy rating. Avery Dennison currently has an average rating of “Buy” and a consensus target price of $ 210.42.
Actions of Avery Dennison Action open for $ 214.73 on Fridays. Avery Dennison has a one-year low of $ 98.84 and a one-year high of $ 216.98. The company has a 50-day moving average of $ 189.86 and a two-hundred-day moving average of $ 164.44. The company has a market cap of $ 17.83 billion, a P / E ratio of 34.30, a price / earnings-growth ratio of 3.25 and a beta of 0.95. The company has a debt to equity ratio of 1.51, a current ratio of 1.31, and a quick ratio of 0.94.
Avery Dennison (NYSE: AVY) last reported its quarterly results on Tuesday, April 27. The industrials company reported earnings per share (EPS) of $ 2.40 for the quarter, beating the consensus estimate of $ 2.01 by $ 0.39. Avery Dennison had a return on equity of 44.88% and a net margin of 7.80%. The company posted revenue of $ 2.05 billion in the quarter, compared to a consensus estimate of $ 1.92 billion. During the same period of the previous year, the company achieved earnings per share of $ 1.66. The company’s revenue for the quarter increased 19.1% from the same quarter last year. On average, stock analysts expect Avery Dennison to post EPS of 6.94 for the current fiscal year.
Several institutional investors and hedge funds have recently increased or reduced their stakes in the company. Norges Bank acquired a new stake in Avery Dennison during the 4th quarter for a value of approximately $ 125,624,000. Veritas Investment Partners UK Ltd. acquired a new stake in Avery Dennison during the 4th quarter valued at approximately $ 83,811,000. Egerton Capital UK LLP acquired a new stake in Avery Dennison during the 4th quarter for a value of approximately $ 57,647,000. Price T Rowe Associates Inc. MD increased its holdings in Avery Dennison by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,670,587 shares of the industrial products company valued at $ 1,034,675,000 after purchasing an additional 362,047 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its stake in Avery Dennison by 89.0% in the 4th quarter. Waverton Investment Management Ltd now owns 573,228 shares of the industrials company valued at $ 88,913,000 after purchasing an additional 269,859 shares in the last quarter. 89.04% of the stock is held by institutional investors.
About Avery Dennison
Avery Dennison Corporation manufactures and markets pressure sensitive materials in the United States, Europe, Asia, Latin America and the world. The Company’s Label and Graphic Materials segment offers pressure sensitive label and packaging materials; and reflective graphics and products under the Fasson, JAC, Avery Dennison and Mactac brands, as well as durable cast and reflective films.
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7 stocks Cathie Wood buys and you should too
If you are an investor who likes to go with the ‘hot hand’ then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management generated returns of over 100% in her firm’s five exchange-traded funds (ETFs) in 2020.
The names of its funds feature some of the hottest emerging growth trends in the market: financial technology (fintech), the genomic revolution, innovation, autonomous / robotics technology and the next generation internet.
As you might expect, these funds contain some of the hottest growth stocks of the past year. And as a result of the technology sale, Wood is not backing down. In fact, it doubles its strategy. It may not be exactly a matter of gluttony when others are afraid; maybe more like being prepared while others are distracted.
But the other thing about Wood’s picks is that a lot of them aren’t obscure names. These are companies that were among the hottest names in 2020. Wood just thinks they still have room to operate. And that’s one of the reasons why you should consider incorporating them into your portfolio.
In this special presentation, we present to you only seven of the stocks that Cathie Wood is buying or has bought recently. We have attempted to select at least one stock from each of the ARK ETFs. As with any investment decision, it is important that you do your own research before making a decision.
See “7 stocks that Cathie Wood buys and you should too”.