BMO Capital took its Avery Dennison [AVY] rating to the equivalent of Outperform from Market Perform, and the price target to $184, in a research note dated 2021-01-05. That figure represents around a 21.16% premium from where the company’s shares closed on Monday. Other analysts also revised their coverage, with JP Morgan’s analysts upgrading the shares from “an Underweight” rating to “a Neutral” rating in a research note to investors issued in late July. Meanwhile, Loop Capital had raised its rating on AVY to “Buy” from the earlier “Hold”, in a research note produced for clients March 20, 2020. In addition, Argus launched coverage on January 07, 2020. The research firm rated AVY “a Hold”.
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Is Avery Dennison Corporation [NYSE:AVY] a Good Buy Right Now?
It should be noted that AVY technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 96% Buy in the last week and compares with 100% Buy in the past month. Data from Avery Dennison Corporation’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.38 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.46 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.51 million shares.
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AVY Price Performance
On Wall Street, Avery Dennison Corporation [NYSE:AVY] finished Monday’s session down -2.07% at $151.90. The stock went up to $157.245 at the same session while its lowest single day price was $151.11. In the last five days, it saw a fall of about -0.98%, Avery Dennison Corporation shares dropped by almost -2.07% since the beginning of the year. However, the share price has dropped to as low as -3.14% below its one year high. On 01/04/21, the company shares recorded $157.24, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $151.11. The company’s shares have inclined by 18.20% in the past year. The 50-day SMA achieved is $149.01 while the 200-day SMA is $123.31. Volume gained to 0.53 million from 0.2 million in the previous session.
Avery Dennison Corporation [AVY] Valuation Measures
Notably, Avery Dennison Corporation [AVY] stock can be classified as a good candidate in the listing of underestimated low-priced Business Equipment & Supplies companies to purchase soonest possible with the prevailing 12-month PE ratio of 24.28. The measure means the stock is exchanging at a discount as compared to the 25.78x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.87 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.34 which means AVY serve an attractive investment opportunity compared to its competitors.
AVY Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 149.59 level, and in case of violation of this particular level, it will cause more drop to 147.28 level. On the upper level, 159.55 is still the key resistance. The stock may increase to the subsequent resistance at 155.73. The Relative Strength Index (RSI) pinned on the 14-day chart is 51.56, implying a neutral technical stance while the MACD stands at 1.38, meaning price will increase in the next trading period. Percent R indicator moved to 60.77%, implying low price movement. Stochastic %K at 73.65% suggest selling the stock.
Avery Dennison Corporation’s Biggest Shareholders: Who Owns Avery Dennison Corporation [AVY]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 9,047,869 shares or roughly 10.85% of the outstanding AVY shares. This means their shares have reduced by -242,071 from the 9,047,869 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, T. Rowe Price Associates, Inc. updated stake is worth $942,117,364. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -1.25% stake valued at $662,285,565 while SSgA Funds Management, Inc. cut theirs at $562,589,616. During the last quarter, BlackRock Fund Advisors liquidated -56,006 of its shares in Avery Dennison Corporation while SSgA Funds Management, Inc. sold -115,818 shares. The Victory Capital Management, Inc.’s holdings currently number 2,452,056 shares at $372467306.4. According to the firm’s last 13F report, Lazard Asset Management LLC shares in the company at filing stood at 2,059,137 shares, roughly $307,511,520.
AVY Earnings Forecast For The Current Quarter
Avery Dennison Corporation [AVY] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.9B and an earnings per share of $2.05 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.78B at an EPS of $1.73 for Mar 2021. The estimates represent upside of 4.20% and 5.50% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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AVY Earnings Estimates For The Current Year
For the financial year, Avery Dennison Corporation [NYSE:AVY] is expected to bring in revenue of $6.85B. The returns are nearly $-220.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 6.82, higher than that of FY19 by $0.22. Estimates put this year’s earnings growth at 3.30%, 5.40% for the next, and at an annual 8.93% over the next 5-year period. As for sales, forecasts are for a decrease of -3.10% in the current fiscal year and a further 4.20% over the following year.
