Avient (NYSE:AVNT) Earns Neutral Rating from Analysts at Robert W. Baird

Equities research analysts at Robert W. Baird assumed coverage on shares of Avient (NYSE:AVNT) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $43.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 6.63% from the stock’s previous close.

AVNT has been the topic of several other research reports. Wells Fargo & Company reduced their target price on Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Avient presently has an average rating of “Moderate Buy” and an average price target of $51.80.

Avient Trading Up 2.1 %

NYSE:AVNT opened at $40.33 on Friday. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.25 and a beta of 1.43. Avient has a 1-year low of $37.63 and a 1-year high of $54.68. The business’s 50-day moving average price is $41.93 and its two-hundred day moving average price is $45.85. 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 (NYSE:AVNT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, equities analysts expect that Avient will post 2.85 earnings per share for the current year.

Institutional Trading of Avient

A number of hedge funds have recently made changes to their positions in AVNT. Norges Bank bought a new stake in Avient in the 4th quarter valued at $50,548,000. Ameriprise Financial Inc. boosted its holdings in shares of Avient by 200.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,321,791 shares of the company’s stock worth $54,012,000 after buying an additional 882,234 shares during the period. Victory Capital Management Inc. grew its stake in Avient by 120.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company’s stock valued at $59,675,000 after buying an additional 797,112 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Avient by 250.5% in the 4th quarter. Point72 Asset Management L.P. now owns 532,610 shares of the company’s stock valued at $21,762,000 after acquiring an additional 380,657 shares during the period. Finally, Franklin Resources Inc. lifted its position in Avient by 9.5% during the fourth quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company’s stock worth $130,180,000 after acquiring an additional 276,357 shares during the last quarter. 95.48% of the stock is owned by institutional investors and hedge funds.

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.