Avery Dennison (AVY) Stock Still Looks Undervalued After A 13% Three Year Gain

Avery Dennison has delivered a 13.0% gain over the past three years, yet its share price has been much flatter over the last 12 months, which puts the focus back on how much cash the business can realistically generate. With the stock recently closing at US$181.83 and fresh corporate headlines in the mix, the live question is whether that price is properly supported by the company’s cash flows. The 13.0% return over three years keeps existing holders modestly ahead. The valuation test now...