Avient (NYSE:AVNT) Shares Up 4.1% - Still a Buy?

Key Points

• Avient shares rose 4.1% to about $39.35, although trading volume was 78% below the average session volume.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $46.71, implying potential upside.
• Avient exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend to $0.2825 per share, equivalent to a 2.9% annualized yield.

Avient Corporation (NYSE:AVNT - Get Free Report)'s share price rose 4.1% during trading on Monday. The stock traded as high as $39.47 and last traded at $39.3460. 181,595 shares were traded during trading, a decline of 78% from the average session volume of 815,841 shares. The stock had previously closed at $37.79.

Analyst Ratings Changes

A number of analysts have commented on AVNT shares. Seaport Research Partners restated a "buy" rating and set a $54.00 price target on shares of Avient in a research report on Friday, August 7th. Truist Financial increased their price objective on shares of Avient from $44.00 to $50.00 and gave the company a "buy" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Avient from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, September 18th. Wells Fargo & Company raised their price objective on shares of Avient from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Avient currently has an average rating of "Moderate Buy" and an average price target of $46.71.

Avient Stock Performance

The company has a fifty day moving average price of $42.37 and a two-hundred day moving average price of $38.44. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.90 and a quick ratio of 1.35.

Avient (NYSE:AVNT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.07. Avient had a return on equity of 11.64% and a net margin of 5.10%. The firm had revenue of $917.00 million for the quarter, compared to analyst estimates of $898.53 million. During the same period in the previous year, the company earned $0.80 earnings per share. Avient's revenue was up 5.8% compared to the same quarter last year. Avient has set its FY 2026 guidance at 3.100-3.250 EPS and its Q3 2026 guidance at 0.800-0.800 EPS. As a group, equities research analysts expect that Avient Corporation will post 3.20 EPS for the current year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Friday, December 11th will be given a dividend of $0.2825 per share. This is a positive change from Avient's previous quarterly dividend of $0.2750. The ex-dividend date is Friday, December 11th. This represents a $1.13 annualized dividend and a dividend yield of 2.9%. Avient's payout ratio is 61.08%.

Hedge Funds Weigh In On Avient

Several hedge funds have recently made changes to their positions in AVNT. EverSource Wealth Advisors LLC lifted its position in shares of Avient by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the company's stock valued at $45,000 after acquiring an additional 424 shares in the last quarter. Nykredit A S purchased a new position in Avient during the 2nd quarter worth approximately $61,000. Allworth Financial LP purchased a new position in Avient during the 2nd quarter worth approximately $66,000. GAMMA Investing LLC grew its position in Avient by 48.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,877 shares of the company's stock worth $76,000 after purchasing an additional 614 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Avient during the 2nd quarter valued at $96,000. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Company Profile

Avient Corporation NYSE: AVNT is a global materials company that develops and manufactures specialized polymer products and solutions. Its portfolio includes engineered materials, specialty formulations, colorants, additives, inks, and other technologies designed to improve the performance, appearance, sustainability, and processing of plastics and other materials.

The company serves customers across a range of industries, including packaging, transportation, healthcare, consumer products, electronics, building and construction, and energy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.