In yesterday’s Wall Street session, Avient Corporation (NYSE:AVNT) shares traded at $37.27, down -1.56% from the previous session.
10 analysts cover Avient Corporation (NYSE:AVNT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $34.00, we find $41.00. Given the previous closing price of $37.86, this indicates a potential upside of 8.29 percent. AVNT stock price is now 9.31% away from the 50-day moving average and -7.54% away from the 200-day moving average. The market capitalization of the company currently stands at $3.35B.
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The stock has received a hold rating from 2 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $41.33 as their price target over the next twelve months.
With the price target of $40, Deutsche Bank recently initiated with Buy rating for Avient Corporation (NYSE: AVNT)., while ‘Stifel’ rates the stock as ‘Buy’.
Insiders disposed of 40,012 shares of company stock worth roughly $1.49 million over the past 1 year. A total of 1.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AVNT stock. A new stake in Avient Corporation shares was purchased by MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. during the first quarter worth $6,257,000. TWO SIGMA INVESTMENTS, LP invested $4,334,000 in shares of AVNT during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Avient Corporation valued at approximately $3,520,000. GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in AVNT for approximately $2,654,000. SCHONFELD STRATEGIC ADVISORS LLC purchased a new stake in AVNT valued at around $2,296,000 in the second quarter. In total, there are 385 active investors with 96.90% ownership of the company’s stock.
On Thursday morning Avient Corporation (NYSE: AVNT) stock kicked off with the opening price of $37.48. During the past 12 months, Avient Corporation has had a low of $27.65 and a high of $55.44. As of last week, the company has a debt-to-equity ratio of 1.81, a current ratio of 1.30, and a quick ratio of 1.00. The fifty day moving average price for AVNT is $34.27 and a two-hundred day moving average price translates $40.25 for the stock.
The latest earnings results from Avient Corporation (NYSE: AVNT) was released for Jun, 2022. According to the Specialty Chemicals Company, earnings per share came in at $0.97, beating analysts’ expectations of $0.92 by 0.05. This compares to $0.20 EPS in the same period last year. The net profit margin was 6.40% and return on equity was 13.60% for AVNT. The company reported revenue of $823.3 million for the quarter, compared to $818.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.65 percent. For the current quarter, analysts expect AVNT to generate $845.73M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/06/2023. Investors who held shares on 12/16/2022 were paid a $0.2475 dividend. On an annualized basis, this represents a $0.99 dividend and a 2.66% percent yield. There was an ex-dividend date of 12/15/2022 for this dividend. In terms of dividend payout ratio, AVNT is presently at 35.70%.
Avient Corporation(AVNT) Company Profile
Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks. This segment products are used in various markets include medical, pharmaceutical devices, food packaging, personal care, cosmetics, transportation, building products, recreational, athletic apparel, construction, filtration, outdoor furniture, healthcare, wire, and cable. The Specialty Engineered Materials segment provides specialty polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials; and long glass and carbon fiber technology to thermoset and thermoplastic composites. The Distribution segment distributes approximately 4,000 grades of engineering and commodity grade resins to custom injection molders and extruders. The company sells its products through direct sales personnel, distributors, and commissioned sales agents. The company was formerly known as PolyOne Corporation and changed its name to Avient Corporation in June 2020. Avient Corporation was founded in 1885 and is headquartered in Avon Lake, Ohio.
