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

Avient (NYSE:AVNT - Free Report) had its price target increased by Wells Fargo & Company from $39.00 to $42.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

AVNT has been the subject of a number of other reports. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Baird R W upgraded Avient to a "hold" rating in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Robert W. Baird began coverage on Avient in a report on Friday, March 14th. They set a "neutral" rating and a $43.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

Avient Stock Up 6.1%

Shares of AVNT traded up $2.24 during trading hours on Wednesday, hitting $39.04. The company had a trading volume of 246,926 shares, compared to its average volume of 547,003. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 1.25 and a beta of 1.38. The firm has a fifty day moving average price of $35.54 and a 200-day moving average price of $41.78. Avient has a 52-week low of $27.86 and a 52-week high of $54.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AVNT. Smartleaf Asset Management LLC increased its stake in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after buying an additional 250 shares during the period. UMB Bank n.a. increased its position in shares of Avient by 85.8% during the first quarter. UMB Bank n.a. now owns 1,126 shares of the company's stock worth $42,000 after acquiring an additional 520 shares during the period. GAMMA Investing LLC raised its stake in shares of Avient by 57.5% in the first quarter. GAMMA Investing LLC now owns 1,422 shares of the company's stock valued at $53,000 after acquiring an additional 519 shares in the last quarter. Allworth Financial LP boosted its holdings in Avient by 2,450.0% in the first quarter. Allworth Financial LP now owns 1,479 shares of the company's stock valued at $55,000 after purchasing an additional 1,421 shares during the period. Finally, Curat Global LLC acquired a new position in Avient during the 1st quarter worth $56,000. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Avient Company Profile

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.