Avient (NYSE:AVNT) PT Raised to $58.00

Avient (NYSE:AVNT) had its price objective lifted by Oppenheimer from $53.00 to $58.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 16.17% from the stock’s previous close.

Separately, Deutsche Bank Aktiengesellschaft raised Avient from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th.

Avient Price Performance

Shares of NYSE:AVNT opened at $49.93 on Monday. The firm has a market capitalization of $4.56 billion, a PE ratio of 43.41, a P/E/G ratio of 1.21 and a beta of 1.47. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $47.57 and a two-hundred day moving average price of $45.16. Avient has a twelve month low of $27.73 and a twelve month high of $51.51.

Avient (NYSE:AVNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $850.00 million during the quarter, compared to analyst estimates of $841.40 million. Avient had a net margin of 3.70% and a return on equity of 10.34%. Avient’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. Equities analysts forecast that Avient will post 2.65 EPS for the current year.

Hedge Funds Weigh In On Avient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its position in shares of Avient by 81.6% during the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 298 shares during the last quarter. Headlands Technologies LLC bought a new stake in Avient during the first quarter valued at approximately $35,000. GAMMA Investing LLC grew its stake in Avient by 88.6% in the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after buying an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Avient in the 2nd quarter worth approximately $59,000. Finally, CWM LLC increased its holdings in shares of Avient by 21.5% in the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $82,000 after buying an additional 290 shares during the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

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.