Shares of Avient Co. (NYSE:AVNT – Get Free Report) have been given a consensus rating of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.50.
A number of research firms have issued reports on AVNT. Seaport Res Ptn downgraded Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Oppenheimer increased their price objective on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th.
Check Out Our Latest Analysis on AVNT
Avient Stock Performance
Avient (NYSE:AVNT – Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Avient had a return on equity of 10.56% and a net margin of 4.66%. The firm had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $797.50 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Avient will post 2.65 EPS for the current fiscal year.
Insider Activity at Avient
In other Avient news, SVP Joel R. Rathbun sold 5,762 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Avient
A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its position in Avient by 3.0% in the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock valued at $213,977,000 after acquiring an additional 121,349 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Avient by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,057,356 shares of the company’s stock valued at $204,166,000 after purchasing an additional 65,452 shares during the period. Geode Capital Management LLC grew its holdings in shares of Avient by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company’s stock worth $109,431,000 after purchasing an additional 43,249 shares during the last quarter. Jennison Associates LLC increased its stake in Avient by 7.6% in the 4th quarter. Jennison Associates LLC now owns 1,825,283 shares of the company’s stock worth $74,581,000 after buying an additional 128,718 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Avient by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company’s stock valued at $76,620,000 after buying an additional 63,138 shares in the last quarter. 95.48% of the stock is 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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