Avient (NYSE:AVNT) Price Target Raised to $53.00

Avient (NYSE:AVNT) had its price target lifted by research analysts at Stifel Nicolaus from $49.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 14.97% from the stock’s previous close.

A number of other equities analysts have also weighed in on AVNT. Wells Fargo & Company increased their target price on shares of Avient from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer upped their price target on shares of Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Avient Stock Performance

AVNT stock traded down $0.22 during mid-day trading on Wednesday, hitting $46.10. The company had a trading volume of 38,991 shares, compared to its average volume of 460,909. Avient has a 12 month low of $27.73 and a 12 month high of $47.87. The stock’s fifty day moving average price is $42.16 and its two-hundred day moving average price is $38.53. The firm has a market cap of $4.21 billion, a PE ratio of 55.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.37 and a current ratio of 1.82.

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

Institutional Investors Weigh In On Avient

Institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its holdings in Avient by 3.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 9,145 shares of the company’s stock valued at $397,000 after acquiring an additional 276 shares in the last quarter. Amalgamated Bank boosted its position in Avient by 0.5% during the 4th quarter. Amalgamated Bank now owns 52,238 shares of the company’s stock valued at $2,172,000 after acquiring an additional 285 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Avient by 42.8% during the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $42,000 after acquiring an additional 300 shares during the period. Arizona State Retirement System raised its position in shares of Avient by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 24,634 shares of the company’s stock worth $870,000 after acquiring an additional 333 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Avient by 2.6% in the 4th quarter. Xponance Inc. now owns 13,390 shares of the company’s stock valued at $557,000 after purchasing an additional 335 shares during the period. Hedge funds and other institutional investors 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.