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

Avient (NYSE:AVNT) had its target price boosted by analysts at Wells Fargo & Company from $50.00 to $52.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 14.71% from the stock’s previous close.

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

Avient Price Performance

Avient stock traded down $0.99 during midday trading on Wednesday, reaching $45.33. 97,594 shares of the company were exchanged, compared to its average volume of 461,556. The firm’s 50-day simple moving average is $42.16 and its 200-day simple moving average is $38.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.37 and a current ratio of 1.82. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 54.99, a P/E/G ratio of 0.91 and a beta of 1.53. Avient has a 1 year low of $27.73 and a 1 year high of $47.87.

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

Hedge Funds Weigh In On Avient

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Avient during the 1st quarter valued at $35,000. Fifth Third Bancorp grew its stake in shares of Avient by 42.8% during the fourth quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after acquiring an additional 300 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Avient during the third quarter worth about $136,000. TFO Wealth Partners LLC lifted its stake in shares of Avient by 50,811.1% in the fourth quarter. TFO Wealth Partners LLC now owns 4,582 shares of the company’s stock worth $190,000 after acquiring an additional 4,573 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new position in Avient in the fourth quarter valued at about $191,000. 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.