Avery Dennison Corp. stock trades under the ticker AVY & has shown recent bullish behavior that traders & investors should take a closer look at.
AVY stock closed at $174.22/share on 4/26/2022.
Avery Dennison Corp. AVY Stock’s Technicals Broken Down
AVY Stock Price: $174.22
10 Day Moving Average: $169.96
50 Day Moving Average: $171.96
200 Day Moving Average: $200.97
RSI: 53.2
MACD: -0.898
Yesterday, AVY stock completed a bullish MACD crossover, gapping up 3.28% & above both their 10 & 50 day moving averages.
Their recent trading volumes have been above average, and their RSI is still in neutral territory, signaling that there is more short-term momentum to come.
AVY stock needs to re-test & break through the $176.52, $177.57 & $178.36 resistance levels.
Avery Dennison Corp. AVY Stock As A Long-Term Investment
Long-term oriented investors will like AVY stock’s P/E (ttm) at 18.96, but may find their P/B (mrq) to be a bit too rich at 7.16.
They recently reported 9.7% Quarterly Revenue Growth Y-o-Y, with -4.6% Quarterly Earnings growth Y-o-Y.
Their balance sheet may require a closer examination before investment, with Total Cash (mrq) of $196.1M & Total Debt (mrq) of $3.3B.
AVY stock pays a 1.58% dividend, which appears to be stable in the long-run as their payout ratio is 30.12%.
91.2% of AVY stock’s outstanding share float is owned by institutional investors.
Avery Dennison Corp. AVY Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to profit from movements in AVY stock.
I am looking at the contracts with the 5/20 expiration date.
The $165, $170 & $175 call options look appealing, but have very limited open interest.
The $175 & $170 puts are the only strike prices with open interest that look to be in-the-money by expiration & are also lacking liquidity.
Tying It All Together
Overall, traders & investors should find AVY stock to be an interesting addition to consider for their portfolio.
Investors will like their dividend yield, but may want to look further into their balance sheet before investing.
Traders will like their current momentum, but will be disappointed by their levels of open interest.
AVY stock is worth taking a closer look at, regardless of your portfolio strategy.
*** I DO NOT OWN SHARES OF AVY STOCK AT THE TIME OF WRITING THIS ***