After several weeks of range-bound movement, shares in Avery Dennison Corporation could enter into a new clear trend. The exit out of the current trading range could be the signal for a return of volatility.
Summary
● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
Strengths
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
● Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.
● The difference between current prices and the average target price is rather important and implies a significant appreciation potential for the stock.
● The tendency within the weekly time frame is positive above the technical support level at 101.94 USD
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Avery Dennison Corporation specializes in the development, manufacturing and marketing of pressure-sensitive materials and self-adhesive products. Net sales break down by family of products as follows:
- adhesive materials and specialty products (71.9%): papers, plastic films, metal foils and fabrics coated with adhesives, reflective films, polymer adhesives, specialty tapes, highly engineered films, inlays, self-adhesive battery labels, postage stamps, etc.;
- price marking and identification products (28.1%): printed labels, graphic tags, barcode tags, price tickets, carton labels, etc. intended for retailers, apparel manufacturers, and distributors. The group also provides copiers, ink-jet and laser printer labels and printer cards, binders, dividers, sheet protectors, markers, adhesives, etc.
Net sales are distributed geographically as follows: the United States (30.8%), Asia (30.4%), Europe /Middle East/ Africa (27.6%), Latin America (7%) and other (4.2%).