Avient (NYSE:AVNT – Get Free Report) had its target price hoisted by Oppenheimer from $45.00 to $49.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 15.24% from the stock’s previous close.
Separately, Wells Fargo & Company upped their price objective on Avient from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th.
Read Our Latest Report on AVNT
Avient Stock Performance
Avient (NYSE:AVNT – Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $719.00 million for the quarter, compared to analyst estimates of $711.87 million. Avient had a return on equity of 9.26% and a net margin of 2.41%. Avient’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Sell-side analysts expect that Avient will post 2.53 EPS for the current fiscal year.
Institutional Trading of Avient
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Avient by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,368,900 shares of the company’s stock valued at $431,035,000 after purchasing an additional 34,399 shares during the last quarter. BlackRock Inc. raised its position in Avient by 2.6% in the second quarter. BlackRock Inc. now owns 10,360,722 shares of the company’s stock valued at $423,754,000 after purchasing an additional 266,231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Avient by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,128,934 shares of the company’s stock valued at $179,196,000 after purchasing an additional 36,742 shares during the last quarter. State Street Corp raised its position in Avient by 0.8% in the second quarter. State Street Corp now owns 3,791,283 shares of the company’s stock valued at $155,941,000 after purchasing an additional 31,535 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Avient by 11.4% in the fourth quarter. Franklin Resources Inc. now owns 3,724,336 shares of the company’s stock valued at $154,821,000 after purchasing an additional 381,610 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors.
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.
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