The price of Avient Corporation (NYSE:AVNT) shares last traded on Wall Street rose 0.92% to $40.48.
Based on available information, 8 analysts follow Avient Corporation (NYSE:AVNT). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $40.00, we find $48.00. Given the previous closing price of $40.11, this indicates a potential upside of 19.67 percent. AVNT stock price is now 2.47% away from the 50-day moving average and 4.99% away from the 200-day moving average. The market capitalization of the company currently stands at $3.65B.
Among analysts, 1 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $47.25 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).
Insiders disposed of 38,869 shares of company stock worth roughly $1.57 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 SCOPUS ASSET MANAGEMENT, L.P. during the first quarter worth $9,148,000. EDENTREE ASSET MANAGEMENT LTD invested $6,598,000 in shares of AVNT during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Avient Corporation valued at approximately $1,490,000. KINGSVIEW WEALTH MANAGEMENT, LLC acquired a new stake in AVNT for approximately $866,000. SALTORO CAPITAL, LP purchased a new stake in AVNT valued at around $769,000 in the second quarter. In total, there are 368 active investors with 96.90% ownership of the company’s stock.
During the past 12 months, Avient Corporation has had a low of $27.65 and a high of $44.74. As of last week, the company has a debt-to-equity ratio of 0.93, a current ratio of 1.90, and a quick ratio of 1.50. The fifty day moving average price for AVNT is $39.54 and a two-hundred day moving average price translates $38.59 for the stock.
The latest earnings results from Avient Corporation (NYSE: AVNT) was released for Jun, 2023. According to the Specialty Chemicals Company, earnings per share came in at $0.63, beating analysts’ expectations of $0.6 by 0.03. This compares to $0.24 EPS in the same period last year. The net profit margin was 17.50% and return on equity was 26.40% for AVNT. The company reported revenue of $824.4 million for the quarter, compared to $891.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.47 percent. For the current quarter, analysts expect AVNT to generate $799.5M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/06/2023. Investors who held shares on 09/15/2023 were paid a $0.2475 dividend. On an annualized basis, this represents a $0.99 dividend and a 2.45% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, AVNT is presently at 15.30%.
Avient Corporation(AVNT) Company Profile
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 specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks. Its products are used in various markets, including 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 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.
