Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Avient (NYSE:AVNT) Stock

Avient (NYSE:AVNT) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $45.00 to $50.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their target price 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Avient Price Performance

Avient stock opened at $43.02 on Friday. The firm’s 50-day simple moving average is $42.48 and its 200 day simple moving average is $46.32. Avient has a 52 week low of $37.63 and a 52 week high of $54.68. The firm has a market capitalization of $3.93 billion, a PE ratio of 26.56, a P/E/G ratio of 1.08 and a beta of 1.51. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87.

Avient (NYSE:AVNT) last announced its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Avient had a net margin of 4.66% and a return on equity of 10.56%. On average, equities research analysts predict that Avient will post 2.65 EPS for the current fiscal year.

Avient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Westfield Capital Management Co. LP increased its stake in shares of 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 acquiring an additional 63,138 shares during the last quarter. FMR LLC increased its position in Avient by 288.0% during the 3rd quarter. FMR LLC now owns 26,138 shares of the company’s stock worth $1,315,000 after purchasing an additional 19,401 shares in the last quarter. JPMorgan Chase & Co. increased its position in Avient by 22.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock worth $30,626,000 after purchasing an additional 111,489 shares in the last quarter. Cerity Partners LLC increased its position in Avient by 48.5% during the 3rd quarter. Cerity Partners LLC now owns 30,868 shares of the company’s stock worth $1,553,000 after purchasing an additional 10,088 shares in the last quarter. Finally, Signaturefd LLC increased its position in Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds 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.