Avient (NYSE:AVNT) Now Covered by Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Avient (NYSE:AVNT) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $43.00 price target on the stock. Robert W. Baird’s target price indicates a potential upside of 8.88% from the stock’s previous close.

Several other brokerages have also issued reports on AVNT. Deutsche Bank Aktiengesellschaft raised their price objective on Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company dropped their price objective on Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Seaport Res Ptn raised Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Avient presently has a consensus rating of “Buy” and an average target price of $51.80.

Avient Stock Down 1.6 %

Shares of NYSE AVNT opened at $39.49 on Friday. The stock has a market cap of $3.61 billion, a P/E ratio of 21.58, a PEG ratio of 1.25 and a beta of 1.43. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient has a 12-month low of $37.63 and a 12-month high of $54.68. The business’s fifty day simple moving average is $41.92 and its 200-day simple moving average is $45.97.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. As a group, equities analysts predict that Avient will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVNT. Assetmark Inc. increased its stake in shares of Avient by 5.7% during the 3rd quarter. Assetmark Inc. now owns 23,862 shares of the company’s stock worth $1,201,000 after purchasing an additional 1,287 shares in the last quarter. Atria Investments Inc grew its stake in Avient by 12.9% in the 3rd quarter. Atria Investments Inc now owns 14,789 shares of the company’s stock worth $744,000 after acquiring an additional 1,689 shares during the period. Cable Hill Partners LLC purchased a new stake in Avient in the 3rd quarter worth approximately $220,000. Natixis Advisors LLC grew its stake in Avient by 5.1% in the 3rd quarter. Natixis Advisors LLC now owns 53,615 shares of the company’s stock worth $2,698,000 after acquiring an additional 2,581 shares during the period. Finally, Chesapeake Capital Corp IL grew its stake in Avient by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 9,411 shares of the company’s stock worth $474,000 after acquiring an additional 2,053 shares during the period. 95.48% of the stock is owned by hedge funds and other institutional investors.

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.