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

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

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

Avient Price Performance

Shares of AVNT opened at $43.90 on Friday. Avient has a fifty-two week low of $35.58 and a fifty-two week high of $54.68. The firm’s 50-day simple moving average is $44.43 and its two-hundred day simple moving average is $46.54. The stock has a market cap of $4.01 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Avient had a return on equity of 10.56% and a net margin of 4.66%. The company had revenue of $815.20 million during the quarter, compared to analyst estimates of $797.50 million. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts anticipate that Avient will post 2.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Avient

In related news, SVP Joel R. Rathbun sold 5,762 shares of the firm’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 value of $296,454.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Avient by 3.0% during the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock valued at $213,977,000 after buying an additional 121,349 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Avient by 1.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,057,356 shares of the company’s stock valued at $204,166,000 after acquiring an additional 65,452 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Avient by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company’s stock valued at $109,431,000 after acquiring an additional 43,249 shares in the last quarter. Jennison Associates LLC grew its position in shares of Avient by 7.6% during the fourth quarter. Jennison Associates LLC now owns 1,825,283 shares of the company’s stock worth $74,581,000 after purchasing an additional 128,718 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Avient by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company’s stock valued at $76,620,000 after purchasing an additional 63,138 shares during the period. Institutional investors own 95.48% of the company’s stock.

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.