Avient Corporation (NYSE:AVNT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Avient Corporation (NYSE:AVNT) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $43.50.

A number of brokerages recently commented on AVNT. Oppenheimer lifted their price objective on Avient from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Zacks Research raised shares of Avient from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Avient in a research note on Monday, December 29th. Finally, KeyCorp raised their target price on Avient from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, January 9th.

Avient Stock Performance

AVNT stock opened at $39.22 on Thursday. The company has a 50 day moving average price of $33.11 and a 200 day moving average price of $33.20. Avient has a fifty-two week low of $27.48 and a fifty-two week high of $44.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.47. The stock has a market capitalization of $3.59 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.44.

Avient (NYSE:AVNT) last released its earnings results on Wednesday, November 5th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Avient had a return on equity of 10.75% and a net margin of 3.49%.The company had revenue of $806.50 million during the quarter, compared to analysts’ expectations of $823.57 million. During the same period last year, the firm earned $0.65 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts forecast that Avient will post 2.85 EPS for the current year.

Institutional Trading of Avient

Hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new position in Avient during the third quarter worth about $29,000. Parkside Financial Bank & Trust raised its holdings in Avient by 54.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 967 shares of the company’s stock worth $32,000 after buying an additional 340 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Avient in the second quarter valued at approximately $37,000. Danske Bank A S acquired a new position in shares of Avient in the third quarter valued at approximately $40,000. Finally, Quarry LP increased its position in shares of Avient by 83.1% during the third quarter. Quarry LP now owns 1,234 shares of the company’s stock worth $41,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

About Avient

Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials, delivering color, additive and engineered solutions to a wide range of industries. The company’s core offerings include masterbatches, colorant systems, compounds and resins designed to enhance performance, aesthetics and environmental sustainability. Avient serves markets such as packaging, automotive, consumer goods, healthcare, electronics, and agriculture, tailoring products to meet stringent regulatory and end-use requirements.

Formed through a corporate rebranding in 2020 following the divestiture of PolyOne’s specialty businesses, Avient traces its heritage to a legacy of polymer innovation spanning decades.