Avery Dennison’s Stock Rebounds After a Rocky 2024—Is the Worst Over?
Avery Dennison Corporation (AVY), a materials science and digital identification firm based in Mentor, Ohio, has seen mixed stock market performance this year. While the company’s shares dipped over longer periods, a recent earnings boost and analyst optimism suggest a shift in momentum. The large-cap stock, valued at $13.4 billion, now trades above key moving averages after a strong third-quarter report.
AVY’s stock market today has faced challenges in 2024, dropping 5.4% year-to-date while the S&P 500 climbed 17.1%. Over the past 52 weeks, shares fell 12.1%, underperforming the broader market’s 14.1% gain. Yet, the company has shown resilience in recent months, rising 7.5% over the last three—outpacing the S&P 500’s 5.4% increase in the same period.
AVY’s recent gains and technical strength signal a potential turnaround after a sluggish year. With analysts projecting further growth and the stock trading above critical moving averages, investors are watching closely. The company’s next moves will determine whether this momentum holds against broader market trends.
