Avient Co. (NYSE:AVNT) Given Consensus Rating of “Moderate Buy” by Analysts

Avient Co. (NYSE:AVNT) has received a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $55.50.

Several equities analysts have recently commented on the company. Oppenheimer increased their price objective on Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Seaport Res Ptn lowered shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th.

Insider Activity

In other news, SVP Joel R. Rathbun sold 5,762 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVNT. Janney Montgomery Scott LLC grew its position in shares of Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock worth $227,000 after buying an additional 258 shares during the last quarter. GAMMA Investing LLC lifted its stake in Avient by 35.4% in the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock worth $55,000 after acquiring an additional 287 shares during the period. CWM LLC boosted its holdings in Avient by 21.5% in the third quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after acquiring an additional 290 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Avient by 81.6% in the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock worth $33,000 after purchasing an additional 298 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $50,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Avient Stock Down 0.8 %

AVNT stock opened at $42.64 on Friday. The company’s 50 day moving average is $45.00 and its 200 day moving average is $46.56. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. Avient has a 1-year low of $35.58 and a 1-year high of $54.68.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Avient had a net margin of 4.66% and a return on equity of 10.56%. The firm had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $797.50 million. During the same quarter last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that Avient will post 2.65 EPS for the current fiscal year.

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.