Avient (NYSE:AVNT) Downgraded by Seaport Res Ptn to Hold

Avient (NYSE:AVNT) was downgraded by equities research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer boosted their target price on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price objective on Avient from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Avient from a “hold” rating to a “buy” rating and raised their target price for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Avient Trading Down 1.8 %

Shares of Avient stock opened at $50.35 on Friday. The stock has a fifty day moving average price of $47.96 and a 200-day moving average price of $45.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.97 and a quick ratio of 0.73. The firm has a market cap of $4.59 billion, a PE ratio of 43.78, a P/E/G ratio of 1.21 and a beta of 1.47. Avient has a 1 year low of $27.73 and a 1 year high of $51.51.

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

Hedge Funds Weigh In On Avient

A number of institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its position in Avient by 81.6% in the third quarter. UMB Bank n.a. now owns 663 shares of the company’s stock worth $33,000 after acquiring an additional 298 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Avient in the 1st quarter worth about $35,000. GAMMA Investing LLC increased its position in shares of Avient by 88.6% during the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after purchasing an additional 381 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Avient during the 2nd quarter valued at about $59,000. Finally, CWM LLC raised its holdings in shares of Avient by 21.5% during the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after buying an additional 290 shares in 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.