Shares of Avery Dennison (AVY) have been strong performers lately, with the stock up 17.8% over the past month. The stock hit a new 52-week high of $156.82 in the previous session. Avery Dennison has gained 16.5% since the start of the year compared to the 13.9% move for the Zacks Industrial Products sector and the -7% return for the Zacks Office Supplies industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on October 21, 2020, Avery Dennison reported EPS of $1.91 versus consensus estimate of $1.54 while it beat the consensus revenue estimate by 1.43%.For the current fiscal year, Avery Dennison is expected to post earnings of $6.86 per share on $6.83 billion in revenues. This represents a 3.94% change in EPS on a -3.37% change in revenues. For the next fiscal year, the company is expected to earn $7.29 per share on $7.14 billion in revenues. This represents a year-over-year change of 6.29% and 4.5%, respectively.Valuation MetricsAvery Dennison may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.Avery Dennison has a Value Score of D. The stock's Growth and Momentum Scores are B and C, respectively, giving the company a VGM Score of B.In terms of its value breakdown, the stock currently trades at 22.2X current fiscal year EPS estimates. On a trailing cash flow basis, the stock currently trades at 17.2X versus its peer group's average of 7.7X. Additionally, the stock has a PEG ratio of 3.34. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Avery Dennison currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Avery Dennison fits the bill. Thus, it seems as though Avery Dennison shares could still be poised for more gains ahead.How Does Avery Dennison Stack Up to the Competition?Shares of Avery Dennison have been rising, and the company still appears to be a decent choice, but what about the rest of the industry? Some of its industry peers are also solid potential picks, including DMC Global (BOOM), Encore Wire (WIRE), and Fortune Brands Home Security (FBHS), all of which currently have a Zacks Rank of at least #2 and a VGM Score of at least B, making them well-rounded choices.However, it is worth noting that the Zacks Industry Rank for this group is in the bottom half of the ranking, so it isn't all good news for Avery Dennison. Still, the fundamentals for Avery Dennison are promising, and it still has potential despite being at a 52-week high.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Avery Dennison Corporation (AVY): Free Stock Analysis Report Fortune Brands Home Security, Inc. (FBHS): Free Stock Analysis Report DMC Global Inc. (BOOM): Free Stock Analysis Report Encore Wire Corporation (WIRE): Free Stock Analysis Report To read this article on Zacks.com click here.