Avient Co. (NYSE:AVNT) Receives $55.50 Average Target Price from Brokerages

Shares of Avient Co. (NYSE:AVNT) have been given an average rating of “Moderate Buy” by the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $55.50.

Several analysts have weighed in on AVNT shares. Oppenheimer upped their target price on Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price objective on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Seaport Res Ptn cut shares of Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th.

Insider Activity at Avient

In related news, SVP Joel R. Rathbun sold 5,762 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Avient by 6.6% in the second quarter. Envestnet Asset Management Inc. now owns 153,100 shares of the company’s stock valued at $6,683,000 after purchasing an additional 9,531 shares during the period. Renaissance Technologies LLC purchased a new stake in Avient in the 2nd quarter valued at about $1,089,000. Vanguard Personalized Indexing Management LLC grew its holdings in Avient by 23.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,536 shares of the company’s stock valued at $373,000 after buying an additional 1,633 shares during the period. Sei Investments Co. lifted its holdings in shares of Avient by 39.4% during the 2nd quarter. Sei Investments Co. now owns 155,763 shares of the company’s stock worth $6,799,000 after acquiring an additional 44,026 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Avient by 140.2% in the second quarter. Cubist Systematic Strategies LLC now owns 56,333 shares of the company’s stock worth $2,459,000 after acquiring an additional 32,882 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Avient Trading Down 2.1 %

Shares of AVNT opened at $42.92 on Friday. Avient has a twelve month low of $35.58 and a twelve month high of $54.68. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $3.92 billion, a P/E ratio of 26.49, a PEG ratio of 1.09 and a beta of 1.52. The firm’s 50-day moving average is $44.24 and its two-hundred day moving average is $46.53.

Avient (NYSE:AVNT) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, research analysts predict that Avient will post 2.65 earnings per share for the current fiscal year.

About Avient

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.