Home Analyst Ratings BMO Capital lifts Avery Dennison rating to Outperform and price target...

BMO Capital lifts Avery Dennison [AVY] rating to Outperform and price target to $184

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.‎

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