Avient (NYSE:AVNT) Price Target Raised to $55.00

Avient (NYSE:AVNT) had its price target lifted by Wells Fargo & Company from $48.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Seaport Research Partners reiterated a “buy” rating and set a $54.00 target price on shares of Avient in a report on Friday, August 7th. Wall Street Zen raised shares of Avient from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Barclays boosted their price target on shares of Avient from $44.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 5th. Truist Financial upped their price objective on Avient from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, Zacks Research cut Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 30th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.75.

Avient Trading Up 1.2%

Shares of NYSE AVNT opened at $46.28 on Monday. Avient has a twelve month low of $27.48 and a twelve month high of $49.08. The company has a current ratio of 1.71, a quick ratio of 1.21 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $41.73 and a 200-day simple moving average of $38.86. The stock has a market capitalization of $4.25 billion, a PE ratio of 23.73, a PEG ratio of 1.29 and a beta of 1.23.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Avient had a return on equity of 12.17% and a net margin of 5.27%. The firm had revenue of $891.20 million for the quarter, compared to the consensus estimate of $857.49 million. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that Avient will post 3.28 earnings per share for the current year.

Avient Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Friday, December 11th will be paid a $0.2825 dividend. This is an increase from Avient’s previous quarterly dividend of $0.2750. This represents a $1.13 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, December 11th. Avient’s payout ratio is presently 57.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVNT. Abel Hall LLC raised its holdings in shares of Avient by 2.2% in the 3rd quarter. Abel Hall LLC now owns 12,075 shares of the company’s stock valued at $486,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP raised its stake in Avient by 18.1% in the second quarter. Allworth Financial LP now owns 1,798 shares of the company’s stock valued at $66,000 after buying an additional 275 shares in the last quarter. Cetera Investment Advisers raised its stake in Avient by 3.0% in the first quarter. Cetera Investment Advisers now owns 11,748 shares of the company’s stock valued at $426,000 after buying an additional 346 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Avient by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 22,024 shares of the company’s stock worth $799,000 after buying an additional 400 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Avient by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the company’s stock worth $45,000 after buying an additional 424 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

About Avient

Avient Corporation is a global provider of specialty polymer materials, services and solutions. Its offerings include colorants, additives, specialty engineered compounds and other materials designed to enhance the performance, appearance or processing of plastics and other polymers. The company serves customers across industries such as packaging, healthcare, transportation, consumer products and construction. Avient’s products include color and additive concentrates, specialty thermoplastic compounds, and high-performance materials, including advanced fibers and composites.