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

by · The Markets Daily

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

Analysts Set New Price Targets

AVY has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $230.00 to $210.00 in a research note on Thursday. Citigroup cut their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. BMO Capital Markets decreased their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Barclays started coverage on shares of Avery Dennison in a research report on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target for the company. Four research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $245.42.

View Our Latest Analysis on AVY

Avery Dennison Trading Up 0.4 %

Shares of AVY stock traded up $0.74 during trading hours on Friday, reaching $205.70. 139,437 shares of the stock traded hands, compared to its average volume of 462,578. Avery Dennison has a 1-year low of $165.21 and a 1-year high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $16.57 billion, a PE ratio of 29.92, a PEG ratio of 1.78 and a beta of 0.88. The business has a fifty day moving average price of $216.85 and a 200 day moving average price of $218.53.

Avery Dennison (NYSE:AVY – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating 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 firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Avery Dennison will post 9.41 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Company Profile

(Get Free Report)

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.

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