Avient (NYSE:AVNT) Given New $52.00 Price Target at Wells Fargo & Company

Avient (NYSE:AVNT) had its price target increased by equities research analysts at Wells Fargo & Company from $50.00 to $52.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.71% from the stock’s previous close.

A number of other brokerages have also weighed in on AVNT. Oppenheimer lifted their target price on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Stifel Nicolaus upped their price objective on shares of Avient from $49.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.20.

Avient Trading Down 2.1 %

AVNT stock traded down $0.99 during mid-day trading on Wednesday, reaching $45.33. 97,594 shares of the stock traded hands, compared to its average volume of 461,556. Avient has a one year low of $27.73 and a one year high of $47.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.37 and a current ratio of 1.82. The business has a 50-day moving average price of $42.16 and a two-hundred day moving average price of $38.53. The stock has a market capitalization of $4.14 billion, a PE ratio of 54.99, a PEG ratio of 0.91 and a beta of 1.53.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $818.45 million. Avient had a net margin of 2.41% and a return on equity of 9.26%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Equities research analysts expect that Avient will post 2.55 EPS for the current year.

Institutional Trading of Avient

Several hedge funds have recently modified their holdings of AVNT. Norges Bank purchased a new position in Avient during the 4th quarter worth $40,628,000. Public Employees Retirement Association of Colorado grew its stake in shares of Avient by 17,378.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 482,399 shares of the company’s stock worth $20,053,000 after acquiring an additional 479,639 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Avient by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,438,391 shares of the company’s stock valued at $142,937,000 after acquiring an additional 384,452 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Avient by 11.4% in the 4th 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. Finally, Westfield Capital Management Co. LP grew its position in Avient by 26.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,201,508 shares of the company’s stock worth $49,947,000 after purchasing an additional 252,191 shares during the last quarter. 95.48% of the stock is owned by hedge funds and other 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.