Cetera Investment Advisers has reduced its stock position in
Avery Dennison Co. (NYSE:AVY). However, the company is still considered a value stock for long-term investors.
Barclays supports this claim, as they've initiated coverage of Avery Dennison with an
Overweight recommendation, citing strong earnings growth potential. Avery Dennison is also planning to host their 2024 Investor Day and webcast their Q3 2024 Earnings Conference Call. Despite some bearish signals from insiders disposing stock, and underperformance in comparison to S&P 500, the company's stock recently moved 3.1% higher, raising questions about whether this strength will persist.
A consensus target price of $242.96 has been set by analysts. Investors seemed content with an impressive 112% return over the last five years. Additionally, Avery Dennison beat Q2 earnings and showed increased year over year revenues.
Citigroup has trimmed Avery Dennison's target price to $240.00, which is slightly below eye-catching estimates.
Point72 Asset Management L.P and
Massachusetts Financial Services sold shares, while
NewEdge Advisors,
GAMMA Investing and
Sanctuary Advisors invested heavily in the company.
A $44 million acquisition of Thermopatch Corporation was recently completed by Avery Dennison. Bearish Reversal seems probable for AVY stocks in the near future.
Avery Dennison Stocks AVY News Analytics from Thu, 20 Aug 2020 07:00:00 GMT to Sat, 12 Oct 2024 08:40:17 GMT -
Rating 5
- Innovation -2
- Information 7
- Rumor -3
