Wells Fargo & Company Boosts Avient (NYSE:AVNT) Price Target to $52.00

Avient (NYSE:AVNT) had its price target increased by stock analysts at Wells Fargo & Company from $50.00 to $52.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.99% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on Avient from $49.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer boosted their price target on shares of Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Avient presently has a consensus rating of “Moderate Buy” and an average price target of $46.20.

Avient Stock Up 1.1 %

Shares of NYSE:AVNT opened at $45.62 on Wednesday. The business has a 50-day moving average price of $42.37 and a 200 day moving average price of $38.62. Avient has a 12-month low of $27.73 and a 12-month high of $47.87. The company has a current ratio of 1.82, a quick ratio of 1.37 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 54.96, a PEG ratio of 0.91 and a beta of 1.53.

Avient (NYSE:AVNT) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $818.45 million. Avient had a net margin of 2.41% and a return on equity of 9.26%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Sell-side analysts expect that Avient will post 2.55 EPS for the current year.

Institutional Trading of Avient

Large investors have recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of Avient by 5.6% in the 3rd quarter. Raymond James & Associates now owns 49,299 shares of the company’s stock valued at $1,741,000 after purchasing an additional 2,594 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Avient by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,302,600 shares of the company’s stock worth $46,008,000 after buying an additional 29,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Avient by 9.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,865 shares of the company’s stock worth $631,000 after acquiring an additional 1,546 shares in the last quarter. Strs Ohio increased its holdings in shares of Avient by 4.0% in the 3rd quarter. Strs Ohio now owns 186,800 shares of the company’s stock valued at $6,597,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Avient by 3.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,512 shares of the company’s stock worth $901,000 after acquiring an additional 800 shares in the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

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.