Avient (NYSE:AVNT) Price Target Raised to $68.00 at Citigroup

Avient (NYSE:AVNT) had its target price raised by Citigroup from $63.00 to $68.00 in a research report sent to investors on Tuesday, The Fly reports.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Avient from a hold rating to a sell rating in a research note on Wednesday, December 29th. Wells Fargo & Company raised their price objective on shares of Avient from $62.00 to $65.00 and gave the stock an overweight rating in a research note on Friday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $59.86.

Shares of NYSE:AVNT opened at $54.93 on Tuesday. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.58 and a beta of 1.62. Avient has a 1-year low of $36.69 and a 1-year high of $61.46. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.43 and a current ratio of 1.92. The company has a 50 day moving average price of $56.55 and a 200 day moving average price of $51.66.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Wednesday, October 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Avient had a net margin of 5.97% and a return on equity of 15.67%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $0.46 EPS. The company’s revenue was up 31.9% on a year-over-year basis. On average, sell-side analysts expect that Avient will post 3.01 EPS for the current fiscal year.

In other Avient news, SVP Lisa K. Kunkle sold 11,447 shares of the stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $60.22, for a total value of $689,338.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.45% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Avient by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,265,081 shares of the company’s stock valued at $455,472,000 after purchasing an additional 151,250 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Avient by 3.9% during the 2nd quarter. Wells Fargo & Company MN now owns 3,909,257 shares of the company’s stock valued at $192,179,000 after purchasing an additional 145,451 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Avient by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 3,450,624 shares of the company’s stock valued at $159,936,000 after purchasing an additional 29,701 shares in the last quarter. State Street Corp raised its holdings in shares of Avient by 0.8% during the 2nd quarter. State Street Corp now owns 2,766,453 shares of the company’s stock valued at $136,619,000 after purchasing an additional 21,401 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Avient by 11.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,584,693 shares of the company’s stock valued at $119,801,000 after purchasing an additional 256,207 shares in the last quarter. Institutional investors and hedge funds own 91.74% of the company’s stock.

Avient Company Profile

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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