Brokerages Set Avient Co. (NYSE:AVNT) Price Target at $42.57

Shares of Avient Co. (NYSE:AVNTGet Rating) have been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $42.57.

A number of research firms have commented on AVNT. Robert W. Baird dropped their price objective on shares of Avient from $42.00 to $35.00 in a research note on Thursday, November 3rd. TheStreet lowered shares of Avient from a “b-” rating to a “c+” rating in a research note on Monday, October 24th. Morgan Stanley dropped their price objective on shares of Avient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avient from $40.00 to $35.00 in a research note on Thursday, November 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Avient from $38.00 to $33.00 in a research note on Thursday, November 3rd.

Avient Price Performance

Shares of AVNT opened at $33.90 on Friday. Avient has a 1-year low of $27.65 and a 1-year high of $60.10. The stock has a market cap of $3.08 billion, a PE ratio of 16.62 and a beta of 1.54. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a fifty day moving average price of $32.57 and a 200 day moving average price of $40.19.

Avient (NYSE:AVNTGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). Avient had a net margin of 4.08% and a return on equity of 16.11%. The company had revenue of $823.30 million during the quarter, compared to analysts’ expectations of $850.82 million. During the same period last year, the firm earned $0.70 earnings per share. Avient’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Avient will post 2.92 EPS for the current year.

Avient Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 16th will be paid a dividend of $0.2475 per share. This represents a $0.99 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from Avient’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 15th. Avient’s payout ratio is 46.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AVNT. Comerica Bank boosted its holdings in Avient by 5.8% during the first quarter. Comerica Bank now owns 43,156 shares of the company’s stock worth $2,320,000 after buying an additional 2,363 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Avient by 13.7% during the first quarter. Park Avenue Securities LLC now owns 4,509 shares of the company’s stock worth $216,000 after buying an additional 544 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in Avient during the first quarter worth about $101,000. Russell Investments Group Ltd. boosted its holdings in Avient by 137.1% during the first quarter. Russell Investments Group Ltd. now owns 35,565 shares of the company’s stock worth $1,706,000 after buying an additional 20,564 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Avient by 2.7% during the first quarter. New York State Common Retirement Fund now owns 1,106,708 shares of the company’s stock worth $53,122,000 after buying an additional 28,607 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Avient Company Profile

(Get Rating)

Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.

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Analyst Recommendations for Avient (NYSE:AVNT)

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