Oppenheimer Increases Avient (NYSE:AVNT) Price Target to $49.00

Avient (NYSE:AVNT) had its price objective increased by equities researchers at Oppenheimer from $45.00 to $49.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 16.29% from the stock’s previous close.

Separately, Wells Fargo & Company upped their price target on Avient from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th.

Avient Trading Up 0.8 %

Shares of NYSE:AVNT opened at $42.14 on Thursday. Avient has a 12-month low of $27.73 and a 12-month high of $43.97. The company has a current ratio of 1.82, a quick ratio of 1.37 and a debt-to-equity ratio of 0.89. The company has a market cap of $3.84 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 0.92 and a beta of 1.53. The stock has a 50 day moving average of $40.80 and a 200 day moving average of $37.51.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Avient had a return on equity of 9.26% and a net margin of 2.41%. The business had revenue of $719.00 million during the quarter, compared to the consensus estimate of $711.87 million. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Avient will post 2.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. boosted its position in shares of Avient by 11.2% during the 1st quarter. NBC Securities Inc. now owns 4,010 shares of the company’s stock valued at $174,000 after acquiring an additional 405 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Avient during the 4th quarter valued at approximately $390,000. Vanguard Group Inc. boosted its position in shares of Avient by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,368,900 shares of the company’s stock valued at $431,035,000 after acquiring an additional 34,399 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Avient by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 319,545 shares of the company’s stock valued at $13,283,000 after acquiring an additional 19,375 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Avient by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,327 shares of the company’s stock valued at $2,134,000 after acquiring an additional 3,906 shares during the last quarter. 95.48% of the stock is currently owned by 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.