Avient (NYSE:AVNT) Stock Rating Lowered by Seaport Res Ptn

Avient (NYSE:AVNT) was downgraded by research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and increased their price target for the company from $49.00 to $52.00 in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price target on shares of Avient from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Oppenheimer increased their price objective on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Avient Price Performance

Shares of Avient stock opened at $50.35 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 43.78, a P/E/G ratio of 1.21 and a beta of 1.47. Avient has a 1-year low of $27.73 and a 1-year high of $51.51. The firm’s 50-day moving average price is $47.96 and its two-hundred day moving average price is $45.31.

Avient (NYSE:AVNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. Avient had a net margin of 3.70% and a return on equity of 10.34%. The business had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $841.40 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Avient’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Avient will post 2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avient

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in Avient by 81.6% in the third quarter. UMB Bank n.a. now owns 663 shares of the company’s stock worth $33,000 after purchasing an additional 298 shares during the period. Headlands Technologies LLC bought a new stake in shares of Avient during the first quarter worth $35,000. GAMMA Investing LLC increased its position in shares of Avient by 88.6% during the second quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after acquiring an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Avient during the second quarter worth $59,000. Finally, CWM LLC increased its position in shares of Avient by 21.5% during the third quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $82,000 after acquiring an additional 290 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

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.