Avient Co. (NYSE:AVNT) Receives $60.17 Average Target Price from Analysts

Shares of Avient Co. (NYSE:AVNT) have received an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $60.17.

A number of research firms have commented on AVNT. Morgan Stanley boosted their target price on Avient from $57.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Citigroup boosted their target price on Avient from $63.00 to $68.00 in a research report on Tuesday. Wells Fargo & Company boosted their target price on Avient from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, December 10th. Finally, Zacks Investment Research cut Avient from a “hold” rating to a “sell” rating in a report on Wednesday, December 29th.

Avient stock opened at $54.93 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.43. Avient has a 1-year low of $36.69 and a 1-year high of $61.46. The company has a market cap of $5.03 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.62. The stock’s 50 day moving average price is $56.55 and its 200 day moving average price is $51.66.

Avient (NYSE:AVNT) last posted its earnings results on Wednesday, October 27th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. Avient had a return on equity of 15.67% and a net margin of 5.97%. Avient’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. On average, equities research analysts anticipate that Avient will post 3.01 EPS for the current fiscal year.

In related news, SVP Lisa K. Kunkle sold 11,447 shares of the company’s stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $60.22, for a total value of $689,338.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.45% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AVNT. Advisor Group Holdings Inc. increased its stake in Avient by 30.8% in the second quarter. Advisor Group Holdings Inc. now owns 10,336 shares of the company’s stock valued at $507,000 after purchasing an additional 2,432 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Avient by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 75,682 shares of the company’s stock valued at $3,721,000 after purchasing an additional 13,209 shares during the last quarter. US Bancorp DE increased its stake in Avient by 51.0% in the second quarter. US Bancorp DE now owns 8,019 shares of the company’s stock valued at $394,000 after purchasing an additional 2,708 shares during the last quarter. American Century Companies Inc. increased its stake in Avient by 12.3% during the second quarter. American Century Companies Inc. now owns 10,251 shares of the company’s stock worth $504,000 after acquiring an additional 1,125 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Avient by 4.5% during the second quarter. HighTower Advisors LLC now owns 14,293 shares of the company’s stock worth $701,000 after acquiring an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 91.74% of the company’s stock.

About Avient

Avient Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers and silicone colorants.

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Analyst Recommendations for Avient (NYSE:AVNT)

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