Avantor (NYSE:AVTR) Given New $13.00 Price Target at Barclays

Key Points

• Avantor's target price has been cut by Barclays from $15.00 to $13.00, while maintaining an "overweight" rating, suggesting a potential upside of 14.42% from its previous close.
• Other major firms, including Goldman Sachs and Royal Bank of Canada, have also lowered their ratings and price targets for Avantor, reflecting a general decline in market sentiment.
• The company reported a quarterly revenue of $1.68 billion, slightly exceeding estimates, but continue to face challenges with a 1.1% year-over-year decline in revenue.

Avantor (NYSE:AVTR - Get Free Report) had its target price cut by stock analysts at Barclays from $15.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 14.42% from the company's previous close.

Several other research firms have also issued reports on AVTR. The Goldman Sachs Group lowered Avantor from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $23.00 to $14.00 in a report on Tuesday, April 29th. Raymond James Financial reiterated an "outperform" rating and set a $14.00 price objective (down from $16.00) on shares of Avantor in a research note on Monday. TD Cowen cut shares of Avantor from a "buy" rating to a "hold" rating and set a $15.50 target price for the company. in a research report on Monday, April 28th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Avantor in a report on Friday. Finally, Royal Bank Of Canada decreased their price objective on shares of Avantor from $24.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.05.

Avantor Stock Performance

Shares of NYSE:AVTR traded up $0.00 on Monday, reaching $11.36. 3,493,631 shares of the company's stock were exchanged, compared to its average volume of 10,466,416. Avantor has a twelve month low of $10.82 and a twelve month high of $27.83. The company has a fifty day moving average of $13.37 and a 200-day moving average of $15.39. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.21 and a beta of 0.96. The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48.

Avantor (NYSE:AVTR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Avantor had a return on equity of 11.39% and a net margin of 10.31%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the company earned $0.25 EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that Avantor will post 1.06 EPS for the current fiscal year.

Insider Activity

In other news, Director Gregory L. Summe purchased 30,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $12.50 per share, for a total transaction of $375,000.00. Following the purchase, the director owned 100,000 shares of the company's stock, valued at approximately $1,250,000. The trade was a 42.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 75,000 shares of company stock worth $928,000 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Avantor

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Avantor during the first quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in Avantor by 288.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the company's stock valued at $28,000 after purchasing an additional 1,263 shares during the period. Wealthquest Corp bought a new position in Avantor during the 1st quarter worth $34,000. FNY Investment Advisers LLC bought a new position in Avantor during the 2nd quarter worth $36,000. Finally, GAMMA Investing LLC lifted its holdings in Avantor by 121.6% during the 1st quarter. GAMMA Investing LLC now owns 3,747 shares of the company's stock worth $61,000 after buying an additional 2,056 shares during the period. Institutional investors and hedge funds own 95.08% of the company's stock.

About Avantor

Avantor, Inc engages in the provision of mission-critical products and services to customers in the biopharma, healthcare, education and government, advanced technologies, and applied materials industries in the Americas, Europe, Asia, the Middle East, and Africa. The company offers materials and consumables, such as purity chemicals and reagents, lab products and supplies, formulated silicone materials, customized excipients, customized single-use assemblies, process chromatography resins and columns, analytical sample prep kits, education and microbiology products, clinical trial kits, peristaltic pumps, and fluid handling tips.

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