KeyBanc analyst Adam Josephson maintained a Hold rating on Avery Dennison Corp (AVY) today. The company’s shares closed last Monday at $116.56, close to its 52-week high of $120.65.
Josephson said:
“We think there’s a point at which costs have been reduced as much as possible, and we think AVY may have reached that point.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 9.4% and a 67.1% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Graphic Packaging, and Clearwater Paper.
Avery Dennison Corp has an analyst consensus of Hold, with a price target consensus of $124.25.
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Based on Avery Dennison Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $143 million. In comparison, last year the company had a net profit of $95.6 million.
Based on the recent corporate insider activity of 44 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. Its businesses include the production of pressure-sensitive materials and a variety of tickets, tags, labels, and other converted products.
