Avient (NYSE:AVNT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Avient (NYSE:AVNT) had its price target upped by stock analysts at Wells Fargo & Company from $48.00 to $55.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 17.73% from the company’s current price.

Other research analysts have also recently issued reports about the company. Barclays boosted their target price on Avient from $44.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. Truist Financial increased their price target on Avient from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings upgraded Avient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Zacks Research cut Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 30th. Finally, Wall Street Zen raised Avient from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.75.

Avient Stock Up 2.7%

Shares of NYSE:AVNT traded up $1.25 during trading on Monday, hitting $46.72. The company’s stock had a trading volume of 29,016 shares, compared to its average volume of 822,818. The business has a 50 day moving average price of $41.59 and a two-hundred day moving average price of $38.73. The company has a market capitalization of $4.29 billion, a PE ratio of 24.04, a P/E/G ratio of 1.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.21 and a current ratio of 1.71. Avient has a fifty-two week low of $27.48 and a fifty-two week high of $49.08.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $891.20 million for the quarter, compared to analyst estimates of $857.49 million. Avient had a return on equity of 12.17% and a net margin of 5.27%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, research analysts expect that Avient will post 3.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Avient

Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Avient during the second quarter worth $4,612,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Avient in the second quarter valued at $905,000. State of Alaska Department of Revenue raised its stake in Avient by 214.8% in the third quarter. State of Alaska Department of Revenue now owns 42,198 shares of the company’s stock valued at $1,697,000 after buying an additional 28,792 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in Avient in the second quarter valued at $2,597,000. Finally, Renaissance Technologies LLC acquired a new stake in Avient in the first quarter valued at $1,803,000. 95.48% of the stock is owned by hedge funds and other institutional investors.

About Avient

Avient Corporation is a global provider of specialty polymer materials, services and solutions. Its offerings include colorants, additives, specialty engineered compounds and other materials designed to enhance the performance, appearance or processing of plastics and other polymers. The company serves customers across industries such as packaging, healthcare, transportation, consumer products and construction.

Avient’s products include color and additive concentrates, specialty thermoplastic compounds, and high-performance materials, including advanced fibers and composites.