The stock of Avient Corporation (NYSE:AVNT) last traded at $39.92, up 3.42% from the previous session.
Data from the available sources indicates that Avient Corporation (NYSE:AVNT) is covered by 9 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $52.00 and a low of $40.00, we find $48.00. Given the previous closing price of $38.60, this indicates a potential upside of 24.35 percent. AVNT stock price is now 0.18% away from the 50-day moving average and 2.49% away from the 200-day moving average. The market capitalization of the company currently stands at $3.75B.
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In total, 1 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $47.44 as their price target over the next twelve months.
With the price target maintained at $50, Oppenheimer recently Upgraded its rating from Perform to Outperform for Avient Corporation (NYSE: AVNT). On October 17, 2022, Deutsche Bank recently initiated its ‘Buy’ rating on the stock quoting a target price of $40, while ‘Oppenheimer’ rates the stock as ‘Perform’.
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 DEPRINCE RACE & ZOLLO INC during the first quarter worth $41,795,000. MARSHALL WACE, LLP invested $37,475,000 in shares of AVNT during the first quarter. In the first quarter, FISHER ASSET MANAGEMENT, LLC acquired a new stake in Avient Corporation valued at approximately $31,166,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in AVNT for approximately $2,342,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in AVNT valued at around $2,335,000 in the second quarter. In total, there are 392 active investors with 96.90% ownership of the company’s stock.
With an opening price of $40.09 on Tuesday morning, Avient Corporation (NYSE: AVNT) set off the trading day. During the past 12 months, Avient Corporation has had a low of $27.65 and a high of $54.77. As of last week, the company has a debt-to-equity ratio of 0.93, a current ratio of 1.80, and a quick ratio of 1.40. The fifty day moving average price for AVNT is $39.97 and a two-hundred day moving average price translates $38.91 for the stock.
The latest earnings results from Avient Corporation (NYSE: AVNT) was released for Sep, 2022. The net profit margin was 20.70% and return on equity was 36.60% for AVNT. The company reported revenue of $790.4 million for the quarter, compared to $1.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -50.7 percent. For the current quarter, analysts expect AVNT to generate $761.9M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/06/2023. Investors who held shares on 03/14/2023 were paid a $0.2475 dividend. On an annualized basis, this represents a $0.99 dividend and a 2.48% percent yield. There was an ex-dividend date of 03/13/2023 for this dividend. In terms of dividend payout ratio, AVNT is presently at 12.30%.
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.
