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AVY · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Avery Dennison Corp. (AVY) stock moving?
Avery Dennison's Q3 2026 print beat consensus, with adjusted EPS of $2.42 against $2.32 expected and sales of $2.33B against $2.26B, and organic sales up 3.7% with mid-single-digit growth in both high-value and base categories. Margins were mixed: the Materials Group adjusted operating margin fell 110 basis points to 14.1%, while Solutions Group margin rose 80 basis points to 10.8%. Full-year adjusted EPS guidance was narrowed to $10.10-$10.24, a midpoint of $10.17 that is roughly in line with the $10.18 estimate, so the beat did not come with a raise. After the release the stock moved from $182.06 on Oct 29 to a $194.53 intraday high on Nov 4, then eased to $189.04 on Nov 10, about 3.8% above the Oct 29 close. Analysts followed with higher targets: UBS to $230, JP Morgan to $200, Raymond James to $198 and Citigroup to $191 (Neutral). The average target of about $205 sits above the current price, though Citigroup's Neutral view shows the upside is not unanimous. Daily volume has fallen from roughly 0.7-1.0M shares in early November to 328K on Nov 10 (possibly a partial session), and the stock has not held the Nov 4 high, which suggests momentum has cooled. Customer destocking and higher inflation remain the main risks to margins.
News behind the analysis
- Avery Dennison China Recognized as a 'Best Company to Work for in Asia 2026'Avery Dennison China was named a winner of the HR Asia Best Companies to Work for in Asia 2026 award for the China market.
- Citigroup Maintains Avery Dennison at Neutral, Raises Price Target to $191Citigroup kept its Neutral rating and raised its price target from $186 to $191.
- JP Morgan Maintains Overweight on Avery Dennison, Raises Price Target to $200JP Morgan kept its Overweight rating and raised its price target to $200 after the third-quarter results.
- UBS Adjusts Avery Dennison Price Target to $230 From $225, Maintains Buy RatingUBS raised its price target to $230 from $225 and kept its Buy rating.
- Raymond James Adjusts Price Target on Avery Dennison to $198Raymond James raised its price target on Avery Dennison from $192 to $198.
- Avery Dennison Corporation Reports Third Quarter 2026 Financial ResultsQ3 revenue rose to $2.331B and adjusted EPS reached $2.42; Materials Group adjusted operating margin fell 110 basis points while Solutions Group margin rose 80 basis points.
- Avery Dennison Q3 Adj. EPS $2.42 Beats $2.32 Estimate, Sales $2.332B Beat $2.263B EstimateAdjusted EPS and sales both came in above consensus for the third quarter.
- Avery Dennison Narrows FY2026 Adj EPS Guidance from $10.00-$10.30 to $10.10-$10.24 vs $10.18 EstThe narrowed full-year adjusted EPS range has a midpoint of $10.17, roughly in line with the $10.18 estimate.
- Avery Dennison Q3 2026 Earnings Call TranscriptManagement discussed mid-single-digit organic growth in both high-value and base categories, offset by higher inflation and customer destocking.
- Avery Dennison Launches Spectrix Color Paint Protection Film Range in IndiaThe company introduced its Spectrix color paint protection films and an interior surface protection kit to the Indian automotive aftermarket.
About Avery Dennison Corp.
Avery Dennison is a global materials science company best known for pressure-sensitive label materials and adhesives, plus RFID tags and other digital identification products used on retail goods. It is distinctive for its large share of the label-materials market and its leadership in RFID tagging for apparel, retail and food.
How it makes money
It reports two segments. The Materials Group is about 70% of sales (roughly $1.6 billion a quarter) and sells label stock, graphics films, reflective materials and performance tapes and adhesives to label converters and manufacturers. The Solutions Group makes up the remaining roughly 30% (about $650–690 million a quarter) and sells apparel brand labels, tags, embellishments and RFID inlays and related services. Total sales run at about $9 billion a year, approximately.
What usually moves AVY
- Consumer packaged goods and retail demand for labels
- Customer inventory destocking and restocking cycles
- RFID adoption in apparel, retail and food
- Raw material costs (paper, films, chemicals) and pricing pass-through
- Foreign currency swings and global industrial activity