Avient Co. (NYSE:AVNT) Receives $54.50 Consensus Price Target from Analysts

Avient Co. (NYSE:AVNT - Get Free Report) has received an average recommendation of "Moderate Buy" from the five brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.50.

A number of research analysts have recently commented on the company. Seaport Res Ptn cut Avient from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised shares of Avient from a "hold" rating to a "buy" rating and lifted their price target for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th. Oppenheimer lifted their target price on shares of Avient from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company lifted their price target on Avient from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th.

Avient Trading Down 2.0 %

Shares of Avient stock traded down $1.03 during trading hours on Tuesday, hitting $51.08. The company's stock had a trading volume of 435,757 shares, compared to its average volume of 463,059. Avient has a 12 month low of $31.45 and a 12 month high of $54.68. The stock has a 50 day moving average of $48.50 and a 200 day moving average of $46.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. The company has a market capitalization of $4.67 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48.

Avient (NYSE:AVNT - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $815.20 million during the quarter, compared to the consensus estimate of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. Avient's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. Analysts predict that Avient will post 2.66 earnings per share for the current year.

Avient Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.11%. This is an increase from Avient's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, December 13th. Avient's dividend payout ratio is 66.67%.

Insider Transactions at Avient

In other news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 is available through the SEC website. Insiders own 1.88% of the company's stock.

Hedge Funds Weigh In On Avient

Large investors have recently modified their holdings of the company. UMB Bank n.a. increased its holdings in shares of Avient by 81.6% during the third quarter. UMB Bank n.a. now owns 663 shares of the company's stock valued at $33,000 after purchasing an additional 298 shares during the period. Headlands Technologies LLC bought a new stake in Avient in the first quarter valued at about $35,000. GAMMA Investing LLC increased its holdings in Avient by 88.6% during the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company's stock valued at $35,000 after purchasing an additional 381 shares in the last quarter. Signaturefd LLC lifted its position in Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company's stock valued at $44,000 after purchasing an additional 320 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Avient in the second quarter valued at approximately $59,000. 95.48% of the stock is currently owned by hedge funds and other 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.