Avantor (NYSE:AVTR) Share Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Avantor shares rose above their 50-day moving average of $15.62, reaching $15.95 and last trading at about $15.90.
• Analyst sentiment remains mostly cautious: 13 analysts rate the stock Hold, two Buy and one Sell, with a consensus price target of $14.77. Several firms raised their targets, including Stifel and Baird to $18.
• Avantor topped quarterly expectations, reporting EPS of $0.22 versus $0.21 expected and revenue of $1.70 billion versus $1.64 billion; revenue increased 4.6% year over year.

Avantor, Inc. (NYSE:AVTR - Get Free Report)'s share price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $15.62 and traded as high as $15.95. Avantor shares last traded at $15.8970, with a volume of 8,124,861 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVTR shares. Stifel Nicolaus raised their target price on Avantor from $15.00 to $18.00 and gave the stock a "hold" rating in a research note on Thursday, October 29th. Barclays upped their price target on Avantor from $15.00 to $16.00 and gave the company an "underweight" rating in a research note on Thursday, October 29th. TD Cowen increased their price target on Avantor from $15.00 to $17.00 and gave the stock a "hold" rating in a report on Tuesday, October 13th. Robert W. Baird raised their price objective on Avantor from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, October 29th. Finally, Royal Bank Of Canada boosted their price objective on shares of Avantor from $14.00 to $17.00 and gave the company a "sector perform" rating in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Avantor presently has an average rating of "Hold" and a consensus target price of $14.77.

Avantor Price Performance

The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 31.79, a P/E/G ratio of 7.08 and a beta of 0.95. The company has a current ratio of 1.89, a quick ratio of 1.27 and a debt-to-equity ratio of 0.63. The company's fifty day moving average is $15.62 and its two-hundred day moving average is $11.34.

Avantor (NYSE:AVTR - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. Avantor had a return on equity of 9.79% and a net margin of 5.08%. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. As a group, research analysts predict that Avantor, Inc. will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Avantor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Avantor by 11.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 62,475 shares of the company's stock valued at $940,000 after acquiring an additional 6,545 shares in the last quarter. Optas LLC lifted its position in shares of Avantor by 9.1% during the third quarter. Optas LLC now owns 15,361 shares of the company's stock worth $231,000 after purchasing an additional 1,280 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Avantor during the third quarter worth about $26,000. Russell Investments Group Ltd. boosted its stake in shares of Avantor by 11.5% in the third quarter. Russell Investments Group Ltd. now owns 1,141,476 shares of the company's stock valued at $17,182,000 after purchasing an additional 117,633 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Avantor by 60.6% in the third quarter. Fifth Third Bancorp now owns 906,058 shares of the company's stock valued at $13,636,000 after purchasing an additional 341,926 shares during the period. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Company Profile

Avantor, Inc is a global provider of products and services used in life sciences, advanced technology and applied materials. Its customers include biopharmaceutical and healthcare companies, laboratories, universities and manufacturers.

The company supplies chemicals, reagents, laboratory consumables and equipment, as well as materials used in biopharmaceutical production. Avantor also provides services such as procurement, inventory management and support for laboratory and production operations.

Avantor traces its history to J.T.

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