Piper Jaffray Companies Analysts Reduce Earnings Estimates for Avantor Inc (NYSE:AVTR)

Avantor Inc (NYSE:AVTR) – Equities research analysts at Piper Jaffray Companies lowered their FY2019 EPS estimates for Avantor in a research note issued to investors on Tuesday, November 5th. Piper Jaffray Companies analyst W. Quirk now forecasts that the company will post earnings per share of $0.56 for the year, down from their previous forecast of $0.57. Piper Jaffray Companies has a “Neutral” rating and a $15.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Avantor’s Q4 2019 earnings at $0.16 EPS, Q1 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.19 EPS, FY2020 earnings at $0.74 EPS and FY2021 earnings at $0.89 EPS.

Several other equities research analysts have also recently weighed in on the company. Barclays reissued a “buy” rating and issued a $22.00 price target on shares of Avantor in a research note on Thursday, July 18th. Zacks Investment Research raised Avantor from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Cleveland Research started coverage on Avantor in a research note on Friday, August 2nd. They set a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.57.

Shares of AVTR stock traded down $0.94 on Friday, hitting $14.36. The company had a trading volume of 8,483,300 shares, compared to its average volume of 3,345,377. The company’s 50-day moving average price is $14.42. Avantor has a twelve month low of $13.33 and a twelve month high of $19.58.

Avantor (NYSE:AVTR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS.

Institutional investors have recently modified their holdings of the stock. Coastal Investment Advisors Inc. bought a new stake in Avantor during the second quarter worth $69,000. JPMorgan Chase & Co. purchased a new position in shares of Avantor in the second quarter valued at $103,000. Russell Investments Group Ltd. purchased a new position in shares of Avantor in the second quarter valued at $113,000. FTB Advisors Inc. purchased a new position in shares of Avantor in the second quarter valued at $127,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Avantor in the second quarter valued at $179,000. Institutional investors and hedge funds own 73.66% of the company’s stock.

Avantor Company Profile

Avantor, Inc is a provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. It sells materials & consumables, equipment & instrumentation and services & specialty procurement. It operates in more than 30 countries and deliver an extensive portfolio of products and services.

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Earnings History and Estimates for Avantor (NYSE:AVTR)

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