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

Avient (NYSE:AVNT) had its price objective lifted by stock analysts at Wells Fargo & Company from $48.00 to $55.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 17.73% from the company’s current price.

A number of other equities research analysts have also issued reports on AVNT. Wall Street Zen raised shares of Avient from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seaport Research Partners reaffirmed a “buy” rating and set a $54.00 target price on shares of Avient in a research note on Friday, August 7th. Barclays lifted their target price on shares of Avient from $44.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Research lowered shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Finally, Weiss Ratings raised shares of Avient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.75.

Avient Price Performance

Shares of NYSE:AVNT traded up $1.25 during midday trading on Monday, hitting $46.72. The company had a trading volume of 29,016 shares, compared to its average volume of 822,818. Avient has a twelve month low of $27.48 and a twelve month high of $49.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.71 and a quick ratio of 1.21. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. The business’s 50-day simple moving average is $41.59 and its 200-day simple moving average is $38.73.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $891.20 million for the quarter, compared to the consensus estimate of $857.49 million. Avient had a return on equity of 12.17% and a net margin of 5.27%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. On average, research analysts predict that Avient will post 3.28 earnings per share for the current year.

Hedge Funds Weigh In On Avient

Several large investors have recently modified their holdings of AVNT. Diversified Trust Co boosted its holdings in Avient by 4.2% during the 3rd quarter. Diversified Trust Co now owns 48,260 shares of the company’s stock valued at $1,942,000 after acquiring an additional 1,927 shares during the period. Allworth Financial LP increased its stake in Avient by 32.0% during the third quarter. Allworth Financial LP now owns 2,374 shares of the company’s stock worth $88,000 after purchasing an additional 576 shares during the period. Russell Investments Group Ltd. increased its stake in Avient by 26.4% during the third quarter. Russell Investments Group Ltd. now owns 332,200 shares of the company’s stock worth $13,371,000 after purchasing an additional 69,343 shares during the period. Keybank National Association OH lifted its position in shares of Avient by 84.2% during the third quarter. Keybank National Association OH now owns 29,156 shares of the company’s stock worth $1,174,000 after purchasing an additional 13,325 shares in the last quarter. Finally, Fulcrum Asset Management LLP lifted its position in shares of Avient by 16,450.0% during the third quarter. Fulcrum Asset Management LLP now owns 1,324 shares of the company’s stock worth $54,000 after purchasing an additional 1,316 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Company Profile

Avient Corporation is a global provider of specialty polymer materials, services and solutions. Its offerings include colorants, additives, specialty engineered compounds and other materials designed to enhance the performance, appearance or processing of plastics and other polymers. The company serves customers across industries such as packaging, healthcare, transportation, consumer products and construction.

Avient’s products include color and additive concentrates, specialty thermoplastic compounds, and high-performance materials, including advanced fibers and composites.