We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avery (AVY) Scales 52-Week High: Grab the Stock Right Now
Read MoreHide Full Article
With enhanced focus on acquisitions and cost control, along with a positive outlook for full-year 2017 results, Avery Dennison Corporation (AVY - Free Report) hit a 52-week high of $86.25 on Jun 15, before closing at $85.55.
Avery Dennison’s shares climbed 20.1% in the past six months, outperforming the Zacks categorized Office Supplies & Forms sector's growth of 11.9%. The company displays long-term earnings growth rate of 7%, making us confident of its innate strength.
The stock has a market cap of $7.6 billion. Average volume of shares traded over the last three months was approximately 617K. Over the last 60 days, the Zacks Consensus Estimate for Avery Dennison moved up 3.4% to $4.58 for 2017. We note that the company has beaten the Zacks Consensus Estimate in each of the trailing four quarters, the average positive earnings surprise being 5.53%.
In the first-quarter conference call, Avery Dennison raised its adjusted earnings per share guidance range to $4.50–$4.65 for full-year 2017. The company remains confident about the consistent execution of strategies which continue to enhance its competitive advantage, while driving profitable growth and improving returns.
Avery Dennison also anticipates organic sales growth of 3.5–4.5% for full-year 2017, on the back of solid results in the first quarter. The company anticipates to deliver its sixth consecutive year of a double-digit increase in EPS and solid organic sales growth.
Notably, Avery Dennison recently completed the acquisition of Hanita Coatings, a pressure-sensitive materials manufacturer of specialty films and laminates. Further, it has acquired Longford, Ireland-based Finesse Medical. Finesse Medical’s product portfolio of silicone gels and polyurethane foam dressings will complement Avery Dennison’s products in wound care.
In addition, Avery Dennison witnessed volumes increase across customer categories over the last few quarters despite a difficult retail apparel market, demonstrating early success of its multi-year transformation strategy. Thus, the company’s strategic efforts to reduce complexity as well as focus on cost structure will support more competitive pricing.
Zacks Rank & Other Key Picks
Avery Dennison currently carries a Zacks Rank #2 (Buy).
AGCO has an average positive earnings surprise of 40.39% for the trailing four quarters. Altra Industrial Motion generated an average positive earnings surprise of 15.93% over the past four quarters, while Parker-Hannifin has an average positive earnings surprise of 14.94% for the last four quarters.
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Avery (AVY) Scales 52-Week High: Grab the Stock Right Now
With enhanced focus on acquisitions and cost control, along with a positive outlook for full-year 2017 results, Avery Dennison Corporation (AVY - Free Report) hit a 52-week high of $86.25 on Jun 15, before closing at $85.55.
Avery Dennison’s shares climbed 20.1% in the past six months, outperforming the Zacks categorized Office Supplies & Forms sector's growth of 11.9%. The company displays long-term earnings growth rate of 7%, making us confident of its innate strength.
The stock has a market cap of $7.6 billion. Average volume of shares traded over the last three months was approximately 617K. Over the last 60 days, the Zacks Consensus Estimate for Avery Dennison moved up 3.4% to $4.58 for 2017. We note that the company has beaten the Zacks Consensus Estimate in each of the trailing four quarters, the average positive earnings surprise being 5.53%.
Avery Dennison Corporation Price and Consensus
Avery Dennison Corporation Price and Consensus | Avery Dennison Corporation Quote
Growth Catalysts
In the first-quarter conference call, Avery Dennison raised its adjusted earnings per share guidance range to $4.50–$4.65 for full-year 2017. The company remains confident about the consistent execution of strategies which continue to enhance its competitive advantage, while driving profitable growth and improving returns.
Avery Dennison also anticipates organic sales growth of 3.5–4.5% for full-year 2017, on the back of solid results in the first quarter. The company anticipates to deliver its sixth consecutive year of a double-digit increase in EPS and solid organic sales growth.
Notably, Avery Dennison recently completed the acquisition of Hanita Coatings, a pressure-sensitive materials manufacturer of specialty films and laminates. Further, it has acquired Longford, Ireland-based Finesse Medical. Finesse Medical’s product portfolio of silicone gels and polyurethane foam dressings will complement Avery Dennison’s products in wound care.
In addition, Avery Dennison witnessed volumes increase across customer categories over the last few quarters despite a difficult retail apparel market, demonstrating early success of its multi-year transformation strategy. Thus, the company’s strategic efforts to reduce complexity as well as focus on cost structure will support more competitive pricing.
Zacks Rank & Other Key Picks
Avery Dennison currently carries a Zacks Rank #2 (Buy).
Other stocks worth considering in the same sector are AGCO Corp. (AGCO - Free Report) , Altra Industrial Motion Corp. and Parker-Hannifin Corp. (PH - Free Report) . All three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AGCO has an average positive earnings surprise of 40.39% for the trailing four quarters. Altra Industrial Motion generated an average positive earnings surprise of 15.93% over the past four quarters, while Parker-Hannifin has an average positive earnings surprise of 14.94% for the last four quarters.
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>