Avient (NYSE:AVNT) Price Target Raised to $60.00 at Wells Fargo & Company
Several other research analysts have also recently weighed in on AVNT. Oppenheimer boosted their price target on shares of Avient from $37.00 to $50.00 and gave the company an outperform rating in a research report on Wednesday, February 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Avient from a neutral rating to a buy rating and boosted their price target for the company from $34.00 to $47.00 in a research report on Wednesday, January 6th. Morgan Stanley boosted their price target on shares of Avient from $42.00 to $45.00 and gave the company an equal weight rating in a research report on Thursday, February 11th. Zacks Investment Research lowered shares of Avient from a buy rating to a hold rating in a report on Monday, February 15th. Finally, Robert W. Baird boosted their price objective on shares of Avient from $46.00 to $61.00 and gave the company an outperform rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Avient has an average rating of Buy and a consensus price target of $48.45.
Shares of AVNT opened at $52.01 on Monday. Avient has a 52-week low of $19.10 and a 52-week high of $52.77. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average is $49.26 and its two-hundred day moving average is $43.18. The stock has a market cap of $4.75 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.65.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 8th. Shareholders of record on Tuesday, March 16th were paid a dividend of $0.213 per share. The ex-dividend date of this dividend was Monday, March 15th. This is a positive change from Avient’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a yield of 1.64%. Avient’s dividend payout ratio is 50.30%.
A number of large investors have recently modified their holdings of AVNT. Norges Bank purchased a new stake in Avient during the fourth quarter worth about $43,999,000. P2 Capital Partners LLC purchased a new stake in shares of Avient during the fourth quarter worth approximately $40,475,000. Victory Capital Management Inc. increased its stake in shares of Avient by 36.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,475,127 shares of the company’s stock worth $99,698,000 after buying an additional 663,653 shares during the period. BlackRock Inc. increased its stake in shares of Avient by 5.0% during the fourth quarter. BlackRock Inc. now owns 11,314,109 shares of the company’s stock worth $455,734,000 after buying an additional 539,249 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in shares of Avient during the fourth quarter worth approximately $21,440,000. Institutional investors own 93.37% of the company’s stock.
Avient Company Profile
Avient Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in 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, plastisols, and vinyl slush molding solutions.
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