Wells Fargo & Company Increases Avient (NYSE:AVNT) Price Target to $42.00

Avient (NYSE:AVNT - Get Free Report) had its target price hoisted by Wells Fargo & Company from $39.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 17.39% from the stock's previous close.

AVNT has been the topic of a number of other reports. Baird R W upgraded shares of Avient to a "hold" rating in a research note on Friday, March 14th. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Robert W. Baird assumed coverage on shares of Avient in a report on Friday, March 14th. They set a "neutral" rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.20.

Avient Price Performance

AVNT traded up $0.31 during trading on Wednesday, hitting $35.78. 50,465 shares of the stock traded hands, compared to its average volume of 543,461. The business has a 50 day moving average price of $35.83 and a 200 day moving average price of $42.07. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.25 and a beta of 1.38. Avient has a twelve month low of $27.86 and a twelve month high of $54.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.01. The company had revenue of $826.60 million during the quarter, compared to analysts' expectations of $834.90 million. Avient had a return on equity of 10.44% and a net margin of 5.23%. Avient's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities research analysts forecast that Avient will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Avient

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC raised its position in shares of Avient by 4.3% during the fourth quarter. Choreo LLC now owns 5,812 shares of the company's stock worth $237,000 after acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock valued at $28,000 after purchasing an additional 250 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Avient by 4.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company's stock worth $270,000 after purchasing an additional 256 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock worth $227,000 after purchasing an additional 258 shares during the period. Finally, Diversified Trust Co boosted its stake in shares of Avient by 2.5% in the 1st quarter. Diversified Trust Co now owns 14,007 shares of the company's stock valued at $520,000 after purchasing an additional 336 shares during the last quarter. 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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