Analysts Set Avient Co. (NYSE:AVNT) PT at $55.50

Avient Co. (NYSE:AVNT) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $55.50.

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

Avient Stock Down 0.7 %

AVNT opened at $39.36 on Wednesday. The business’s fifty day simple moving average is $47.23 and its 200 day simple moving average is $46.73. Avient has a 52 week low of $35.50 and a 52 week high of $54.68. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The stock has a market cap of $3.60 billion, a PE ratio of 24.30, a P/E/G ratio of 1.22 and a beta of 1.52.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $815.20 million during the quarter, compared to analysts’ expectations of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. As a group, research analysts expect that Avient will post 2.66 earnings per share for the current fiscal year.

Insider Transactions at Avient

In other news, SVP Joel R. Rathbun sold 5,762 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total value of $296,454.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avient

Several hedge funds have recently bought and sold shares of the business. Raymond James & Associates grew its stake in shares of Avient by 4.9% in the second quarter. Raymond James & Associates now owns 49,471 shares of the company’s stock worth $2,159,000 after acquiring an additional 2,311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Avient by 8.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,224 shares of the company’s stock valued at $926,000 after purchasing an additional 1,731 shares during the last quarter. Natixis Advisors LLC increased its stake in Avient by 2.2% during the 2nd quarter. Natixis Advisors LLC now owns 51,034 shares of the company’s stock valued at $2,228,000 after purchasing an additional 1,084 shares in the last quarter. Fiera Capital Corp raised its holdings in Avient by 1.2% in the second quarter. Fiera Capital Corp now owns 662,713 shares of the company’s stock worth $28,927,000 after buying an additional 8,165 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Avient by 162.9% in the second quarter. Victory Capital Management Inc. now owns 748,675 shares of the company’s stock worth $32,680,000 after buying an additional 463,919 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.

Avient Company Profile

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.