In a report released today, Adam Josephson from KeyBanc maintained a Hold rating on Avery Dennison (AVY). The company’s shares closed last Wednesday at $180.25, close to its 52-week high of $186.77.
According to TipRanks.com, Josephson has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.8% and a 48.8% success rate. Josephson covers the Basic Materials sector, focusing on stocks such as International Paper Co, Berry Global Group, and Graphic Packaging.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avery Dennison with a $184.20 average price target.
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Based on Avery Dennison’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.99 billion and net profit of $192 million. In comparison, last year the company earned revenue of $1.77 billion and had a net profit of $163 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVY in relation to earlier this year. Last month, Julia Stewart, a Director at AVY sold 4,664 shares for a total of $796,844.
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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials Segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products. The Retail Branding and Information Solutions segment designs, manufactures, and sells a variety of branding and information solutions to retailers, brand owners, apparel manufacturers, distributors and industrial customers. The Industrial and Healthcare Materials Segment manufactures and sells Fasson-brand and Avery Dennison-brand tapes and fasteners, Vancive -brand medical pressure sensitive adhesive based materials and products, and performance polymers. The company was founded by R. Stanton Avery in 1935 and is headquartered in Glendale, CA.