Avient (NYSE:AVNT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Avient (NYSE:AVNT) had its target price upped by stock analysts at Wells Fargo & Company from $39.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 12.57% from the stock’s current price.

A number of other research firms also recently issued reports on AVNT. Deutsche Bank Aktiengesellschaft increased their price objective on Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Baird R W upgraded shares of Avient to a “hold” rating in a report on Friday, March 14th. Robert W. Baird initiated coverage on shares of Avient in a report on Friday, March 14th. They set a “neutral” rating and a $43.00 target price for the company. Finally, Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Avient currently has a consensus rating of “Moderate Buy” and an average target price of $48.25.

Avient Price Performance

NYSE AVNT opened at $37.31 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.25 and a beta of 1.38. The business has a 50 day simple moving average of $35.62 and a 200 day simple moving average of $41.94. Avient has a 52-week low of $27.86 and a 52-week high of $54.68.

Avient (NYSE:AVNT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $826.60 million for the quarter, compared to analyst estimates of $834.90 million. Avient had a net margin of 5.23% and a return on equity of 10.44%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. Analysts anticipate that Avient will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avient

A number of hedge funds and other institutional investors have recently bought and sold shares of AVNT. Choreo LLC lifted its position in shares of Avient by 4.3% in the fourth quarter. Choreo LLC now owns 5,812 shares of the company’s stock valued at $237,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Avient by 4.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company’s stock valued at $270,000 after purchasing an additional 256 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Avient by 4.9% in the fourth 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. Finally, Diversified Trust Co lifted its stake in shares of Avient by 2.5% during the 1st quarter. Diversified Trust Co now owns 14,007 shares of the company’s stock worth $520,000 after buying an additional 336 shares during the last quarter. Institutional investors own 95.48% of the company’s stock.

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.