Royal Bank Of Canada Has Lowered Expectations for Avantor (NYSE:AVTR) Stock Price

Key Points

• Royal Bank of Canada has reduced its target price for Avantor from $20.00 to $17.00, while maintaining an "outperform" rating, indicating a potential upside of 49.62% from the stock's recent close.
• Analysts from TD Cowen, Barclays, and Wells Fargo have also adjusted their ratings and price targets for Avantor, with Barclays setting a new target of $13.00.
• The stock of Avantor has a consensus rating of "Hold" with a current price target of $16.05, reflecting a downward trend after a reported earnings miss.

Avantor (NYSE:AVTR - Get Free Report) had its target price dropped by investment analysts at Royal Bank Of Canada from $20.00 to $17.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 49.62% from the stock's previous close.

Several other analysts have also commented on the company. TD Cowen lowered Avantor from a "buy" rating to a "hold" rating and set a $15.50 price objective for the company. in a report on Monday, April 28th. Barclays decreased their price target on Avantor from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday. Cowen lowered Avantor from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company cut their price objective on shares of Avantor from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Avantor in a research note on Friday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.05.

Avantor Stock Up 0.0%

Shares of Avantor stock traded up $0.00 during trading on Monday, hitting $11.36. 3,493,631 shares of the stock traded hands, compared to its average volume of 10,466,416. The firm has a market cap of $7.74 billion, a P/E ratio of 11.49, a price-to-earnings-growth 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 has a 52-week low of $10.82 and a 52-week high of $27.83. The stock's fifty day simple moving average is $13.37 and its 200 day simple moving average is $15.39.

Avantor (NYSE:AVTR - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.24 earnings per share 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 analysts' expectations of $1.67 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that Avantor will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Avantor

In other news, Director Gregory L. Summe purchased 30,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $12.50 per share, for a total transaction of $375,000.00. Following the acquisition, the director directly owned 100,000 shares of the company's stock, valued at approximately $1,250,000. This represents a 42.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 75,000 shares of company stock valued at $928,000. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Avantor by 10.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company's stock valued at $132,000 after acquiring an additional 592 shares during the last quarter. American Trust increased its holdings in Avantor by 4.5% in the 4th quarter. American Trust now owns 15,198 shares of the company's stock valued at $320,000 after purchasing an additional 658 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Avantor by 1.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 82,523 shares of the company's stock valued at $1,767,000 after purchasing an additional 857 shares during the last quarter. Portside Wealth Group LLC raised its position in Avantor by 9.0% in the first quarter. Portside Wealth Group LLC now owns 10,673 shares of the company's stock valued at $173,000 after purchasing an additional 882 shares during the period. Finally, Signaturefd LLC lifted its stake in Avantor by 19.8% during the first quarter. Signaturefd LLC now owns 5,470 shares of the company's stock worth $89,000 after purchasing an additional 904 shares in the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

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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