Avient (NYSE:AVNT) Stock Price Expected to Rise, Truist Financial Analyst Says

Avient (NYSE:AVNT) had its price target increased by Truist Financial from $50.00 to $56.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial‘s target price suggests a potential upside of 22.96% from the company’s previous close.

A number of other research analysts have also commented on AVNT. Wells Fargo & Company raised their price objective on shares of Avient from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Zacks Research downgraded Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Barclays started coverage on Avient in a research note on Monday, October 12th. They set an “equal weight” rating and a $44.00 price target for the company. Wall Street Zen lowered Avient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, Weiss Ratings upgraded Avient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.88.

Avient Price Performance

AVNT stock traded up $0.22 during trading on Thursday, hitting $45.54. The company had a trading volume of 801,278 shares, compared to its average volume of 880,184. The business has a 50 day moving average of $41.59 and a 200 day moving average of $38.73. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 1.25 and a beta of 1.23. The company has a current ratio of 1.90, a quick ratio of 1.35 and a debt-to-equity ratio of 0.77. Avient has a fifty-two week low of $27.48 and a fifty-two week high of $49.08.

Avient (NYSE:AVNT) last released its earnings results on Wednesday, November 4th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Avient had a net margin of 5.10% and a return on equity of 11.64%. The firm had revenue of $891.20 million for the quarter, compared to analysts’ expectations of $857.49 million. During the same quarter last year, the company earned $0.70 EPS. Avient’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts predict that Avient will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On Avient

Several hedge funds have recently made changes to their positions in the business. Diversified Trust Co raised its holdings in shares of Avient by 4.2% in the 3rd quarter. Diversified Trust Co now owns 48,260 shares of the company’s stock worth $1,942,000 after purchasing an additional 1,927 shares in the last quarter. Allworth Financial LP boosted its holdings in Avient by 32.0% during the third quarter. Allworth Financial LP now owns 2,374 shares of the company’s stock worth $88,000 after buying an additional 576 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Avient by 26.4% during the third quarter. Russell Investments Group Ltd. now owns 332,200 shares of the company’s stock worth $13,371,000 after buying an additional 69,343 shares in the last quarter. Keybank National Association OH boosted its holdings in Avient by 84.2% during the third quarter. Keybank National Association OH now owns 29,156 shares of the company’s stock worth $1,174,000 after buying an additional 13,325 shares in the last quarter. Finally, Fulcrum Asset Management LLP grew its position in Avient by 16,450.0% in the third quarter. Fulcrum Asset Management LLP now owns 1,324 shares of the company’s stock worth $54,000 after buying an additional 1,316 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Company Profile

Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials. The company develops, formulates and manufactures engineered materials, colorants, additives and performance-enhancing solutions used to improve the appearance, durability, processing and functionality of plastic products.

Its offerings include specialty polymer formulations, thermoplastic compounds, color and additive concentrates, advanced composites, barrier technologies and recycled or bio-based material solutions.