Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1381.3%
Neutral318.7%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Avery Dennison Corporation · AVY · FY2026 Q2 · Calendar Q3 2026
Avery Dennison: Strong Q2, Guidance Reaffirmed
Avery Dennison's Q2 results support a constructive operating thesis: resilient demand, margin expansion, and Intelligent Labels investment were accompanied by reaffirmed full-year guidance. The main counterweight is that inventory timing, cost inflation, and the still-developing food rollout could make the growth path uneven.
Reported Before market openNYSEConsumer Cyclical
$13.16B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.89
Consensus $2.47
EPS surprise
+17.0%
Reported versus consensus
Reported revenue
$2.46B
Consensus $2.30B
Revenue surprise
+7.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.6%
Event window
SPY move
+1.7%
Same window
Abnormal move
+2.9%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
+2.0%
Up to 20 sessions
AVYSPY benchmark
Ask FN2 about AVY FY2026 Q2
Transcript, numbers and history already loaded
Why did AVY rise 4.6% after beating EPS estimates in FY2026 Q2?What changed in AVY's guidance and outlook in FY2026 Q2?Give me the bull and bear case for AVY after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, Avery Dennison reported stronger 8% organic sales growth, higher adjusted EBITDA margin, and robust free cash flow. The company also supplied more detail on food-sector Intelligent Labels expansion and identified a $0.25 Q3 EPS headwind from the reversal of the Q2 inventory pre-buy.
Guidance delta
Full-year 2026 organic sales growth and EPS guidance was reaffirmed; no change was supplied.
Key takeaways
- Organic sales grew 8% year over year, while adjusted EPS rose 19% to $2.89.
- Adjusted EBITDA margin expanded to 17.1% and free cash flow was $365 million.
- Management highlighted Intelligent Labels expansion, AI initiatives, and food-sector rollouts as growth priorities.
- The inventory pre-buy supported Q2 EPS and is expected to reverse as a Q3 headwind.
Management priorities
- Accelerate Intelligent Labels adoption across apparel, food, and logistics.
- Scale food-sector rollouts with Walmart and Kroger, including protein and perishable pilots.
- Continue AI integration for product innovation and internal efficiency.
- Maintain disciplined capital allocation and support share repurchases and dividend growth.
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Analyst 52W Price Targets
$171.77Current
$175Low
$210.46Average
$250High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Jul 31, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 15, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 14, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Feb 6, 2026 |
| Argus Research | Buy | Hold | Upgrade | Oct 28, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Jul 15, 2025 |
| Barclays | Overweight | Overweight | Maintain | Apr 24, 2025 |
| Baird | Outperform | Outperform | Maintain | Apr 24, 2025 |
| Loop Capital | Buy | Buy | Maintain | Sep 21, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 2, 2021 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Mar 17, 2021 |
| Bank of America | Buy | Neutral | Upgrade | Sep 13, 2019 |
| KeyBanc | Overweight | Downgrade | Apr 8, 2019 | |
| Topeka Capital | Buy | Hold | Upgrade | Dec 12, 2014 |
| Topeka | Buy | Hold | Upgrade | Dec 12, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $171.77. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Joshua Spector | $225 | $171.18 | +31.0% | Jul 31, 2026 |
| Truist Financial | Analyst unavailable | $209 | $158.98 | +21.7% | Jul 15, 2026 |
| Argus Research | Analyst unavailable | $175 | $154.6 | +1.9% | Jun 4, 2026 |
| Truist Financial | Analyst unavailable | $221 | $163.74 | +28.7% | Apr 29, 2026 |
| Raymond James | Analyst unavailable | $192 | $172.12 | +11.8% | Apr 21, 2026 |
| UBS | Joshua Spector | $222 | $172.09 | +29.2% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $224 | $192.88 | +30.4% | Feb 6, 2026 |
| UBS | Joshua Spector | $226 | $193.13 | +31.6% | Feb 5, 2026 |
| Truist Financial | Analyst unavailable | $234 | $180.54 | +36.2% | Jan 6, 2026 |
| Argus Research | Alexandra Yates | $200 | $180.52 | +16.4% | Oct 28, 2025 |
| BMO Capital | John McNulty | $210 | $185.31 | +22.3% | Oct 23, 2025 |
| UBS | Analyst unavailable | $218 | $179.04 | +26.9% | Oct 23, 2025 |
| Truist Financial | Analyst unavailable | $203 | $158.67 | +18.2% | Oct 13, 2025 |
| UBS | Analyst unavailable | $181 | $162.41 | +5.4% | Oct 6, 2025 |
| BMO Capital | Analyst unavailable | $216 | $170.75 | +25.7% | Apr 25, 2025 |
| Truist Financial | Michael Roxland | $210 | $174.83 | +22.3% | Apr 22, 2025 |
| BMO Capital | John McNulty | $226 | $183.34 | +31.6% | Feb 3, 2025 |
| Raymond James | Matt Roberts | $208 | $185.73 | +21.1% | Jan 31, 2025 |
| Robert W. Baird | Ghansham Panjabi | $220 | $185.73 | +28.1% | Jan 31, 2025 |
| BMO Capital | John McNulty | $247 | $204.01 | +43.8% | Oct 24, 2024 |
| Bank of America Securities | George Staphos | $250 | $214.93 | +45.5% | Oct 17, 2024 |
| BMO Capital | John McNulty | $252 | $212.76 | +46.7% | Sep 19, 2024 |
| UBS | Joshua Spector | $235 | $214.79 | +36.8% | Jul 25, 2024 |
| Truist Financial | Michael Roxland | $258 | $216.7 | +50.2% | Jul 24, 2024 |
| Robert W. Baird | Ghansham Panjabi | $250 | $226.92 | +45.5% | Jun 7, 2024 |
| Robert W. Baird | Ghansham Panjabi | $230 | $212.42 | +33.9% | Apr 25, 2024 |
| Truist Financial | Michael Roxland | $249 | $197.12 | +45.0% | Jan 12, 2024 |
| Truist Financial | Michael Roxland | $215 | $184.72 | +25.2% | Sep 5, 2023 |
| BMO Capital | Analyst unavailable | $233 | $181.2 | +35.6% | Feb 6, 2023 |
| Truist Financial | Analyst unavailable | $223 | $186.26 | +29.8% | Feb 3, 2023 |
| UBS | Analyst unavailable | $194 | $191.7 | +12.9% | Jan 11, 2023 |
| Raymond James | Joshua Wilson | $195 | $174.78 | +13.5% | Jul 25, 2022 |
| Raymond James | Analyst unavailable | $200 | $181.23 | +16.4% | Apr 28, 2022 |
| Raymond James | Analyst unavailable | $185 | $167.42 | +7.7% | Apr 25, 2022 |
| Bank of America Securities | George Staphos | $239 | $204.46 | +39.1% | Jul 6, 2021 |
Track every rating change on AVY the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAvery Dennison Corporation operates as a materials science and digital identification solutions company in the North America, Europe, the Middle East, North Africa, Asia, and Latin America. It offers pressure-sensitive label materials, which consist of papers, plastic films, and metal foils; performance tapes products, including mechanical fasteners, which are precision-extruded and injection-molded plastic devices; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, and Avery Dennison brands. The company provides graphics and reflective products that include films and other products for the architectural, commercial sign, digital printing, and other related market segments; durable cast and reflective films to the construction, automotive, and fleet transportation markets; sign shops, commercial printers, and designers for pressure-sensitive materials; reflective films for traffic and safety applications…
Historical context
All AVY earningsConsumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| AZO AutoZone, Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.6% | +3.3% | AutoZone pairs commercial momentum with an aggressive FY2027 expansion plan |
| LEN-B Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | — | Lennar: Efficiency Gains Offset Housing-Market Pressures |
| LEN Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | -4.1% | Lennar Holds Volume Guidance as Margins Improve Despite Housing Headwinds |
| TCOM Trip.com Group Limited | FY2026 Q2 · Calendar Q3 2026 | +22.3% | +3.0% | Trip.com pairs international growth with heavier AI investment |
| CASY Casey's General Stores, Inc. | FY2027 Q1 · Calendar Q3 2026 | +8.7% | -14.2% | Casey's Q1: Prepared Food Drives Growth as Fuel Margins Stay Volatile |
| LULU Lululemon Athletica Inc. | FY2026 Q2 · Calendar Q3 2026 | +63.1% | -17.4% | Lululemon lowers FY2026 outlook as North America weakens |
Latest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
Get the AVY recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-30T19:06:53.221790+00:00
- FN2 earnings calendar · 2026-09-04T01:23:15.205020+00:00
- Polygon adjusted daily market bars · 2026-09-23T13:10:56.498485+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T13:10:56.496204+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.