Avery Dennison Corp (AVY) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on May 20, 2016.
Many Wall Street Analysts have commented on Avery Dennison Corp. Company shares were Reiterated by Barclays on May 2, 2016 to “Overweight”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .Avery Dennison Corp was Resumed by Credit Suisse to “Neutral” on Apr 22, 2016.
On the company’s financial health, Avery Dennison Corp reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.86. The company had revenue of $1485.50 million for the quarter, compared to analysts expectations of $1508.36 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.
Avery Dennison Corp opened for trading at $74.33 and hit $74.73 on the upside on Thursday, eventually ending the session at $74.62, with a gain of 0.24% or 0.18 points. The heightened volatility saw the trading volume jump to 6,01,183 shares. Company has a market cap of $6,654 M.
Investors should note that on Apr 28, 2016, Avery Dennison Corp announced a cash dividend of $0.4100. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.
In a different news, on May 4, 2016, Mitchell R Butier (President and CEO) sold 62,276 shares at $74.00 per share price. According to the SEC, on May 3, 2016, Susan C Miller (Senior VP, Gen Counsel & Secty) sold 2,000 shares at $72.65 per share price. On May 2, 2016, Dean A Scarborough (Executive Chairman) sold 100,000 shares at $72.54 per share price, according to the Form-4 filing with the securities and exchange commission.
Avery Dennison Corporation is engaged in the production of pressure-sensitive materials and a variety of tickets tags labels and other converted products. The Companys pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing printing stamping and die-cutting. It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. The Company also manufactures and sells a variety of other converted products and items not involving pressure-sensitive components such as fasteners tickets tags radio-frequency identification (RFID) inlays and tags and imprinting equipment and related services which it markets to retailers and apparel manufacturers and brand owners. The Companys operational segments include Pressure-sensitive Materials (PSM) Retail Branding and Information Solutions (RBIS) and Vancive Medical Technologies (Vancive).