Avery Dennison Corporation ($AVY) Stock Forecast: Down 2.4% Today

What is Avery Dennison Corporation?

Asset Avery Dennison (AVY) is a global materials science company specializing in the design and manufacture of a wide variety of labeling and packaging materials. The stock is listed on the New York Stock Exchange (NYSE).

Why is Avery Dennison Corporation going down?

AVY stock is down 2.4% on Oct 23, 2024 15:36

• The bearish movement in AVY today could be attributed to investors' cautious sentiment ahead of the company's Q3 earnings report. Analysts' insights on key performance measures may have raised concerns about the company's financial health and future outlook.
• The bullish upgrade of Illumina Inc. (ILMN) by a top Wall Street analyst may have diverted investor attention towards this competitor in the healthcare sector, leading to a shift in investment focus away from AVY.
• Market participants might be reacting to the positive outlook on Illumina Inc. (ILMN) and reallocating their investments based on the perceived growth potential of the upgraded stock, causing a sell-off in AVY.
• Overall, the bearish movement in AVY today could be a combination of profit-taking, cautious sentiment ahead of earnings, and a shift in investor focus towards a competitor in the same industry.

AVY Price Chart

AVY Technical Analysis

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Avery Dennison ( AVY ) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures

Evaluate the expected performance of Avery Dennison (AVY) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

https://www.zacks.com/stock/news/2353777/avery-dennison-avy-q3-earnings-on-the-horizon-analysts-insights-on-key-performance-measures

This Illumina Analyst Turns Bullish; Here Are Top 5 Upgrades For Thursday - Illumina ( NASDAQ:ILMN )

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. HSBC analyst Shubhangi Gupta upgraded the rating for Illumina, Inc. ILMN from Hold to Buy and announced a ...

https://www.benzinga.com/news/24/10/41379660/this-illumina-analyst-turns-bullish-here-are-top-5-upgrades-for-thursday

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Avery Dennison Corporation Price History

25.08.2023 - AVY Stock was up 2.1%

• Avery Dennison announced a dividend payout of $0.81 per share, which highlights its commitment to empowering shareholders and enhancing performance. This positive news likely contributed to the bullish movement in AVY's stock.
• The company also received a positive adjustment to its Relative Strength (RS) Rating, indicating strong price performance. This could have attracted investors and contributed to the bullish movement.
• The rising profits reported by Avery Dennison further support the positive market movement, as it demonstrates the company's ability to generate growth and potentially attract more investors.
• Overall, the combination of the dividend payout, positive RS Rating adjustment, and rising profits likely contributed to the bullish movement in AVY's stock today.

23.09.2024 - AVY Stock was down 2.4%

• The bearish movement in AVY today could be attributed to investors' cautious sentiment ahead of the company's Q3 earnings report. Analysts' insights on key performance measures may have raised concerns about the company's financial health and future outlook.
• The bullish upgrade of Illumina Inc. (ILMN) by a top Wall Street analyst may have diverted investor attention towards this competitor in the healthcare sector, leading to a shift in investment focus away from AVY.
• Market participants might be reacting to the positive outlook on Illumina Inc. (ILMN) and reallocating their investments based on the perceived growth potential of the upgraded stock, causing a sell-off in AVY.
• Overall, the bearish movement in AVY today could be a combination of profit-taking, cautious sentiment ahead of earnings, and a shift in investor focus towards a competitor in the same industry.

23.06.2024 - AVY Stock was down 1.6%

• Despite surpassing both EPS and revenue estimates for Q2 2024, AVY stock faced a bearish trend.
• The noteworthy earnings growth, supported by enhanced volume and productivity gains, could not halt the bearish trend.
• The unexpected Q2 sales performance and exceeding of revenue estimates failed to trigger a positive market response for AVY stock.
• It appears that robust financial results and outperforming analyst forecasts were overshadowed by broader market conditions or external factors influencing AVY's stock price adversely.