Avient (NYSE:AVNT) Price Target Lowered to $55.00 at Wells Fargo & Company

Avient (NYSE:AVNT - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $59.00 to $55.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 23.78% from the company's previous close.

A number of other analysts have also commented on AVNT. Deutsche Bank Aktiengesellschaft lifted their price target on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday. Seaport Res Ptn lowered Avient from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Avient has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Avient Stock Up 3.4 %

Shares of AVNT stock traded up $1.45 during trading hours on Friday, reaching $44.44. The company had a trading volume of 156,513 shares, compared to its average volume of 538,054. Avient has a 12 month low of $37.63 and a 12 month high of $54.68. 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 business has a fifty day simple moving average of $42.34 and a 200-day simple moving average of $46.33. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51.

Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49. Avient had a return on equity of 10.56% and a net margin of 4.66%. On average, research analysts expect that Avient will post 2.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avient

Hedge funds have recently made changes to their positions in the stock. Westfield Capital Management Co. LP grew its position in shares of Avient by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company's stock valued at $76,620,000 after purchasing an additional 63,138 shares in the last quarter. FMR LLC grew its position in Avient by 288.0% during the third quarter. FMR LLC now owns 26,138 shares of the company's stock worth $1,315,000 after buying an additional 19,401 shares in the last quarter. JPMorgan Chase & Co. grew its position in Avient by 22.4% during the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company's stock worth $30,626,000 after buying an additional 111,489 shares in the last quarter. Cerity Partners LLC grew its position in Avient by 48.5% during the third quarter. Cerity Partners LLC now owns 30,868 shares of the company's stock worth $1,553,000 after buying an additional 10,088 shares in the last quarter. Finally, Signaturefd LLC grew its position in Avient by 58.7% during the third quarter. Signaturefd LLC now owns 865 shares of the company's stock worth $44,000 after buying an additional 320 shares in the last quarter. 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.