Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Avery Dennison Corp. shares valued at $298,603 were sold by Yost Ryan D on Mar 11 ’24. At $213.29 per share, Yost Ryan D sold 1,400 shares. The insider’s holdings dropped to 2,843 shares worth approximately $0.6 million following the completion of this transaction.
Also, Butier Mitchell R sold 17,373 shares, netting a total of over 3,762,017 in proceeds. Following the sale of shares at $216.54 each, the insider now holds 304,114 shares.
Before that, Butier Mitchell R had sold 8,168 shares from its account. In a trade valued at $1,775,372, the Executive Chairman traded Avery Dennison Corp. shares for $217.36 each. Upon closing the transaction, the insider’s holdings decreased to 8,168 shares, worth approximately $68.29 million.
As published in a research note from Citigroup on January 03, 2024, Avery Dennison Corp. [AVY] has been rated down from a Buy to a Neutral and the price target has been revised to $214 from $197. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in early January. Earlier on August 23, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for AVY stock which previously was a “a Neutral”.
Analyzing AVY Stock Performance
During the last five days, there has been a surge of approximately 1.68%. Over the course of the year, Avery Dennison Corp. shares have jumped approximately 5.08%. Shares of the company reached a 52-week high of $225.26 on 03/28/24 and a 52-week low of $193.49 on 01/09/24. A 50-day SMA is recorded $214.90, while a 200-day SMA reached $194.20. Nevertheless, trading volume fell to 0.78 million shares from 0.85 million shares the previous day.
Support And Resistance Levels for Avery Dennison Corp. (AVY)
According to the 24-hour chart, there is a support level at 207.10, which, if violated, would cause prices to drop to 201.79. In the upper region, resistance lies at 221.17. The next price resistance is at 229.92. RSI (Relative Strength Index) is 45.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.40, which suggests the price will decrease in the coming days. Percent R is at 75.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
