Avient (NYSE:AVNT) Stock Price Expected to Rise, Barclays Analyst Says

Avient (NYSE:AVNT) had its price target hoisted by equities research analysts at Barclays from $44.00 to $50.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 9.79% from the company’s current price.

AVNT has been the subject of a number of other research reports. Wall Street Zen cut shares of Avient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Wells Fargo & Company increased their price target on Avient from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Zacks Research downgraded Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Truist Financial boosted their price objective on Avient from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Seaport Research Partners restated a “buy” rating and set a $54.00 target price on shares of Avient in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Avient currently has an average rating of “Hold” and a consensus target price of $47.88.

Avient Price Performance

Shares of Avient stock traded up $0.22 during mid-day trading on Thursday, reaching $45.54. 801,278 shares of the stock were exchanged, compared to its average volume of 880,184. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.23. The company has a current ratio of 1.90, a quick ratio of 1.35 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $38.73. Avient has a fifty-two week low of $27.48 and a fifty-two week high of $49.08.

Avient (NYSE:AVNT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $891.20 million for the quarter, compared to analyst estimates of $857.49 million. Avient had a net margin of 5.10% and a return on equity of 11.64%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. On average, sell-side analysts predict that Avient will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Avient

Several large investors have recently made changes to their positions in the stock. Diversified Trust Co raised its stake in shares of Avient by 4.2% in the 3rd quarter. Diversified Trust Co now owns 48,260 shares of the company’s stock valued at $1,942,000 after purchasing an additional 1,927 shares during the period. Allworth Financial LP increased its position in shares of Avient by 32.0% during the 3rd 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 last quarter. Russell Investments Group Ltd. raised its stake in shares of Avient by 26.4% during the 3rd 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 in the last quarter. Keybank National Association OH boosted its holdings in shares of Avient by 84.2% in the 3rd quarter. Keybank National Association OH now owns 29,156 shares of the company’s stock valued at $1,174,000 after buying an additional 13,325 shares during the last quarter. Finally, Fulcrum Asset Management LLP grew its stake in shares of Avient by 16,450.0% in the third quarter. Fulcrum Asset Management LLP now owns 1,324 shares of the company’s stock valued at $54,000 after buying an additional 1,316 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.

About Avient

Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials. The company develops, formulates and manufactures engineered materials, colorants, additives and performance-enhancing solutions used to improve the appearance, durability, processing and functionality of plastic products.

Its offerings include specialty polymer formulations, thermoplastic compounds, color and additive concentrates, advanced composites, barrier technologies and recycled or bio-based material solutions.