Avient (NYSE:AVNT) Earns Neutral Rating from Analysts at Robert W. Baird

Equities research analysts at Robert W. Baird started coverage on shares of Avient (NYSE:AVNT - Get Free Report) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a "neutral" rating and a $43.00 price target on the stock. Robert W. Baird's price target would suggest a potential upside of 6.87% from the stock's current price.

Several other analysts also recently commented on AVNT. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.80.

Avient Stock Performance

Shares of Avient stock traded down $0.41 on Friday, hitting $40.24. 529,930 shares of the company's stock were exchanged, compared to its average volume of 482,833. The company has a 50-day simple moving average of $41.95 and a 200-day simple moving average of $45.78. The stock has a market capitalization of $3.68 billion, a PE ratio of 21.99, a PEG ratio of 1.25 and a beta of 1.43. Avient has a 1 year low of $37.63 and a 1 year high of $54.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88.

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Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. As a group, equities analysts anticipate that Avient will post 2.85 EPS for the current year.

Institutional Trading of Avient

A number of institutional investors and hedge funds have recently bought and sold shares of AVNT. Norges Bank bought a new stake in Avient in the 4th quarter valued at $50,548,000. Ameriprise Financial Inc. increased its holdings in shares of Avient by 200.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,321,791 shares of the company's stock worth $54,012,000 after buying an additional 882,234 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Avient by 120.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company's stock worth $59,675,000 after buying an additional 797,112 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Avient by 250.5% in the 4th quarter. Point72 Asset Management L.P. now owns 532,610 shares of the company's stock worth $21,762,000 after buying an additional 380,657 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Avient by 9.5% in the 4th quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company's stock worth $130,180,000 after buying an additional 276,357 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors.

About Avient

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.