Avient (NYSE:AVNT) Price Target Cut to $37.00 by Analysts at Robert W. Baird

Key Points

• Avient has had its target price cut from $43.00 to $37.00 by analysts at Robert W. Baird, maintaining a "neutral" rating, suggesting a potential upside of 9.60% from the current price.
• Other analysts have varying ratings, with Wells Fargo increasing its target to $42.00 and Morgan Stanley lowering it to $41.00, resulting in a consensus rating of "Moderate Buy" and an average target price of $45.60.
• The company reported earnings of $0.80 EPS, beating estimates, and had a revenue of $866.50 million for the quarter, demonstrating a 1.9% year-over-year growth.

Avient (NYSE:AVNT - Get Free Report) had its target price dropped by stock analysts at Robert W. Baird from $43.00 to $37.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 9.60% from the company's current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company lifted their target price on Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Avient from $51.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.60.

Avient Price Performance

Shares of AVNT opened at $33.76 on Monday. The company has a market cap of $3.09 billion, a P/E ratio of 26.38, a PEG ratio of 1.12 and a beta of 1.38. The stock has a fifty day moving average price of $34.40 and a 200 day moving average price of $36.94. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.50. Avient has a 12 month low of $27.86 and a 12 month high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The firm had revenue of $866.50 million during the quarter, compared to the consensus estimate of $852.98 million. Avient had a return on equity of 10.57% and a net margin of 3.65%. The firm's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. On average, research analysts forecast that Avient will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Avient

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Avient by 75.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the company's stock valued at $27,000 after purchasing an additional 318 shares during the period. UMB Bank n.a. increased its position in shares of Avient by 85.8% during the 1st quarter. UMB Bank n.a. now owns 1,126 shares of the company's stock valued at $42,000 after purchasing an additional 520 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Avient during the 2nd quarter valued at $37,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Avient during the 2nd quarter valued at $45,000. Finally, GAMMA Investing LLC increased its position in shares of Avient by 57.5% during the 1st quarter. GAMMA Investing LLC now owns 1,422 shares of the company's stock valued at $53,000 after purchasing an additional 519 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.

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.

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