Analysts have pulled back targets entering the April 28 print. Short interest sits near 1-month highs while insiders sold $20M in 90 days.
Short interest stands at 2.73% of free float as of April 23, down 2.4% over the past week. The decline follows a sharp 14% jump over the prior month. Days to cover sits at 3.6 based on FINRA data. Cost to borrow remains cheap at 0.39%, down 14% week-over-week. Utilization is light at 2.0%, well below the 52-week high of 6.8%. The low borrowing friction suggests shorts can easily establish or add to positions.
Put/call ratio spiked to 0.72 on April 24, running nearly 1.8 standard deviations above the 20-day mean of 0.38. The ratio sits in the upper third of its 52-week range (0.04 to 1.92). The bearish skew marks a sharp shift from the prior three weeks, when PCR hovered near 0.27. Options traders are pricing in downside risk heading into the print.
Coverage is thin and recent moves skew cautious. Truist lowered its target to $223 from $233 on April 15, maintaining Buy. Citigroup cut to $190 from $201 on April 14, holding Neutral. UBS trimmed to $222 from $226 on April 10, also keeping Buy. Deutsche Bank initiated coverage at Buy with a $200 target on April 1. The mean target of $205 implies 24% upside from the current $165.50, but the cluster of April cuts signals fading confidence. JP Morgan had raised to $205 in February post-earnings, but that momentum stalled. Benzinga's bear case notes Q3 EPS estimates falling to $2.39 from $2.51 and EBITDA slipping to $1.60B from $1.67B, citing apparel volume declines. The bull case highlights 15% growth in logistics and food/grocery sales plus double-digit CVS partnership gains.
P/E stands at 16.0, down 0.2 points over 30 days. EV/EBITDA rose 5% in the same window to 10.7. The stock ranks in the 95th percentile on forward EPS growth momentum and the 93rd percentile on analyst recommendation differential. EPS surprise sits at the 56th percentile. Quality, momentum, and value ML scores are unavailable.
Insiders sold a net $20.1M over the past 90 days, led by Executive Chairman Mitchell Butier, who liquidated over 44,000 shares in early March at prices between $170 and $177. Vanguard holds 13.6% and added 70,000 shares in Q1. T. Rowe Price lifted its stake by 68,000 shares to 5.4%. BlackRock and State Street made modest additions.
AVY last reported on February 4, 2026. The stock is down 4% over the past week and flat over the month. The price has drifted lower into this print after rallying post-Q4.
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