Avient (NYSE:AVNT - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $55.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 22.72% from the stock's previous close.
Several other equities analysts have also recently issued reports on the company. Seaport Res Ptn upgraded Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their price target on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Robert W. Baird initiated coverage on shares of Avient in a report on Friday, March 14th. They set a "neutral" rating and a $43.00 target price on the stock. Finally, Baird R W raised shares of Avient to a "hold" rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Avient currently has an average rating of "Moderate Buy" and an average price target of $48.60.
Read Our Latest Stock Report on AVNT
Avient Stock Up 2.1 %
Shares of AVNT traded up $0.65 during mid-day trading on Wednesday, reaching $31.78. The company's stock had a trading volume of 738,024 shares, compared to its average volume of 546,895. Avient has a 1 year low of $27.86 and a 1 year high of $54.68. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. The business has a fifty day moving average of $39.28 and a 200 day moving average of $44.01.
Avient (NYSE:AVNT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.49 EPS 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, analysts forecast that Avient will post 2.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Avient
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Avient by 288.0% during the 3rd quarter. FMR LLC now owns 26,138 shares of the company's stock valued at $1,315,000 after acquiring an additional 19,401 shares during the last quarter. Centiva Capital LP bought a new position in shares of Avient during the third quarter valued at about $253,000. State Street Corp increased its stake in shares of Avient by 3.0% during the third quarter. State Street Corp now owns 4,231,720 shares of the company's stock valued at $213,977,000 after buying an additional 121,349 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock valued at $50,000 after purchasing an additional 310 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Avient by 221.7% in the 3rd quarter. Barclays PLC now owns 173,002 shares of the company's stock valued at $8,706,000 after purchasing an additional 119,229 shares during the period. Institutional investors own 95.48% of the company's stock.
About Avient
(
Get Free Report)
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.
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