Avantor (NYSE:AVTR) Price Target Cut to $16.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Avantor (NYSE:AVTR) from $18.00 to $16.00 while maintaining an "outperform" rating.
• Stifel Nicolaus and Cowen have downgraded Avantor from "buy" to "hold," with revised price targets of $14.00 and $15.50, respectively, reflecting a broader trend of decreased valuations among analysts.
• Despite recent downgrades, Avantor's stock has seen some trading activity, closing at $11.37 with a market capitalization of $7.74 billion.

Avantor (NYSE:AVTR - Free Report) had its price target lowered by Evercore ISI from $18.00 to $16.00 in a report released on Monday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Morgan Stanley cut Avantor from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, April 29th. Wells Fargo & Company dropped their target price on Avantor from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday. The Goldman Sachs Group cut Avantor from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $14.00 in a research report on Tuesday, April 29th. Jefferies Financial Group reissued a "hold" rating on shares of Avantor in a research report on Friday, August 1st. Finally, Stifel Nicolaus cut Avantor from a "buy" rating to a "hold" rating and dropped their target price for the stock from $26.00 to $14.00 in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $15.50.

Avantor Stock Performance

Shares of Avantor stock traded down $0.18 during trading on Monday, hitting $11.47. 2,930,171 shares of the company's stock traded hands, compared to its average volume of 10,617,943. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.67. Avantor has a 1 year low of $10.82 and a 1 year high of $27.83. The stock has a market capitalization of $7.82 billion, a P/E ratio of 11.57, a PEG ratio of 1.26 and a beta of 0.96. The business has a 50-day simple moving average of $13.32 and a 200-day simple moving average of $15.29.

Avantor (NYSE:AVTR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Avantor had a net margin of 10.31% and a return on equity of 11.39%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the business earned $0.25 earnings per share. The company's quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts forecast that Avantor will post 1.06 EPS for the current year.

Insider Transactions at Avantor

In other Avantor news, Director Gregory L. Summe bought 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $12.50 per share, with a total value of $375,000.00. Following the purchase, the director owned 100,000 shares of the company's stock, valued at $1,250,000. This trade represents a 42.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company's stock.

Institutional Trading of Avantor

A number of large investors have recently added to or reduced their stakes in AVTR. Rise Advisors LLC purchased a new stake in shares of Avantor during the 1st quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Avantor by 288.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the company's stock worth $28,000 after acquiring an additional 1,263 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Avantor during the 1st quarter worth approximately $34,000. FNY Investment Advisers LLC purchased a new stake in shares of Avantor during the 2nd quarter worth approximately $36,000. Finally, Spire Wealth Management purchased a new stake in shares of Avantor during the 2nd quarter worth approximately $47,000. Institutional investors 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.