Avery Dennison (AVY - Free Report) shares soared 3.1% in the last trading session to close at $215.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.6% loss over the past four weeks.
Shares of Avery Dennison have gained since the company hosted its investor day on Wednesday. The company announced that it is on track to meet its 2020-2025 financial targets, driven by sales growth, strong margins, and solid capital efficiency.
The company is expecting more than 5% sales growth (ex-currency) in the long term. It expects more than 17% adjusted EBITDA margin by 2028 and around 10% adjusted EPS growth in the long term. Avery Dennison aims to have the top quartile ROTC among its peers.
This maker of office products is expected to post quarterly earnings of $2.32 per share in its upcoming report, which represents a year-over-year change of +10.5%. Revenues are expected to be $2.2 billion, up 4.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Avery Dennison, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AVY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Avery Dennison is part of the Zacks Office Supplies industry. Xerox Holdings Corporation (XRX - Free Report) , another stock in the same industry, closed the last trading session 2.4% higher at $10.81. XRX has returned 1.1% in the past month.
Xerox's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.57. Compared to the company's year-ago EPS, this represents a change of +23.9%. Xerox currently boasts a Zacks Rank of #5 (Strong Sell).
Avery Dennison (AVY - Free Report) shares soared 3.1% in the last trading session to close at $215.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.6% loss over the past four weeks.
Shares of Avery Dennison have gained since the company hosted its investor day on Wednesday. The company announced that it is on track to meet its 2020-2025 financial targets, driven by sales growth, strong margins, and solid capital efficiency.
The company is expecting more than 5% sales growth (ex-currency) in the long term. It expects more than 17% adjusted EBITDA margin by 2028 and around 10% adjusted EPS growth in the long term. Avery Dennison aims to have the top quartile ROTC among its peers.
This maker of office products is expected to post quarterly earnings of $2.32 per share in its upcoming report, which represents a year-over-year change of +10.5%. Revenues are expected to be $2.2 billion, up 4.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Avery Dennison, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AVY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Avery Dennison is part of the Zacks Office Supplies industry. Xerox Holdings Corporation (XRX - Free Report) , another stock in the same industry, closed the last trading session 2.4% higher at $10.81. XRX has returned 1.1% in the past month.
Xerox's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.57. Compared to the company's year-ago EPS, this represents a change of +23.9%. Xerox currently boasts a Zacks Rank of #5 (Strong Sell).
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