It is easy to overlook less recognizable stocks in favor of red-hot technology names, so Jim Cramer highlighted one under-the-radar powerhouse worth noting: the stock of Avery Dennison.
"It's a stand-in for all those other little-known companies with stocks that have become seemingly unstoppable in recent months," the "Mad Money" host said.
You may not know the name, but Avery Dennison's products are everywhere. The company makes adhesive materials, coatings, and labeling and packaging products like graphic imaging and radio frequency identification tags, which help businesses manage their brands and track inventory.
But the company is not solely dependent on the retail sector. Its technology, which includes heat- and chemical-resistant labels for warning signs and adhesive films that make buildings look better, is so impressive that the stock has been a frequent visitor to the 52-week high list.
"Avery Dennison may not be sexy, but it's one of the kind of unsung heroes that no one talks about. They just don't," Cramer said. "Would I recommend buying it? Sure, I think the stock could have a lot of upside."
Aside from being tech-savvy, Avery Dennison has also been forward-thinking, delivering steady revenue growth, strong earnings and high value products while making strategic acquisitions and paying a good dividend.
"What really matters here is that this market's recent rally is not just about flashy tech stocks that so many investors feel uncomfortable with," Cramer said. "It's also composed of boring, steady-eddie players like Avery Dennison, and as long as this kind of stock is leading the way, I feel good about the norm of the market, since this company is the definition of normal — the regular American Joe stock that's worth investing in any day of the week."