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

Avient Co. (NYSE:AVNT) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $55.50.

AVNT has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Seaport Res Ptn cut shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Oppenheimer upped their target price on shares of Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th.

Insiders Place Their Bets

In other news, SVP Joel R. Rathbun sold 5,762 shares of Avient stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by insiders.

Institutional Trading of Avient

A number of large investors have recently added to or reduced their stakes in AVNT. Choreo LLC increased its holdings in shares of Avient by 4.3% during the fourth quarter. Choreo LLC now owns 5,812 shares of the company’s stock worth $237,000 after buying an additional 238 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Avient by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock valued at $227,000 after purchasing an additional 258 shares during the period. GAMMA Investing LLC raised its stake in shares of Avient by 35.4% during the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock worth $55,000 after buying an additional 287 shares during the last quarter. CWM LLC boosted its stake in Avient by 21.5% in the third quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after acquiring an additional 290 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Avient by 81.6% in the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after purchasing an additional 298 shares during the period. 95.48% of the stock is currently owned by institutional investors.

Avient Stock Down 0.9 %

Shares of NYSE:AVNT opened at $42.76 on Friday. The company’s fifty day moving average is $44.71 and its two-hundred day moving average is $46.58. 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 has a 1-year low of $35.58 and a 1-year high of $54.68. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52.

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

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.