Avient Co. (NYSE:AVNT) Receives $54.50 Average Price Target from Analysts

Shares of Avient Co. (NYSE:AVNT) have earned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $54.50.

A number of equities analysts have recently commented on AVNT shares. Seaport Res Ptn cut Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of Avient from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Oppenheimer increased their price objective on shares of Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th.

Avient Stock Down 1.2 %

Shares of AVNT opened at $48.33 on Friday. Avient has a 12-month low of $27.73 and a 12-month high of $51.51. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.41 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. The business’s 50 day moving average is $48.04 and its 200 day moving average is $45.37.

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

Avient Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Avient’s previous quarterly dividend of $0.26. Avient’s dividend payout ratio is presently 93.91%.

Institutional Trading of Avient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in shares of Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after purchasing an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Avient by 1.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,057,356 shares of the company’s stock valued at $204,166,000 after buying an additional 65,452 shares in the last quarter. Raymond James & Associates grew its position in shares of Avient by 2.0% in the 3rd quarter. Raymond James & Associates now owns 50,484 shares of the company’s stock worth $2,540,000 after buying an additional 1,013 shares during the last quarter. Trust Point Inc. acquired a new position in shares of Avient during the third quarter worth $210,000. Finally, nVerses Capital LLC lifted its holdings in shares of Avient by 53.8% during the 3rd quarter. nVerses Capital LLC now owns 4,000 shares of the company’s stock valued at $201,000 after purchasing an additional 1,400 shares during the last quarter. 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.