Avient Co. (NYSE:AVNT – Get Rating) – Oppenheimer dropped their Q4 2022 earnings estimates for shares of Avient in a report released on Tuesday, January 24th. Oppenheimer analyst K. Owen now expects that the company will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.29. Oppenheimer currently has a "Market Perform" rating on the stock. The consensus estimate for Avient's current full-year earnings is $2.90 per share. Oppenheimer also issued estimates for Avient's Q1 2023 earnings at $0.59 EPS, Q2 2023 earnings at $0.57 EPS and FY2024 earnings at $2.54 EPS.
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AVNT has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Avient from $40.00 to $35.00 in a report on Thursday, November 3rd. Morgan Stanley dropped their target price on shares of Avient from $37.00 to $34.00 and set an "equal weight" rating for the company in a research report on Monday, November 7th. Robert W. Baird boosted their target price on shares of Avient from $35.00 to $44.00 in a research report on Tuesday, December 20th. Wells Fargo & Company boosted their target price on shares of Avient from $33.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, January 9th. Finally, TheStreet cut shares of Avient from a "b-" rating to a "c+" rating in a research report on Monday, October 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $45.14.
Avient Stock Performance
NYSE AVNT opened at $39.08 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $3.55 billion, a P/E ratio of 19.16 and a beta of 1.49. Avient has a 12-month low of $27.65 and a 12-month high of $55.44. The firm has a 50-day moving average price of $35.13 and a two-hundred day moving average price of $37.17.
Avient (NYSE:AVNT – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.02). The business had revenue of $823.30 million during the quarter, compared to the consensus estimate of $850.82 million. Avient had a net margin of 4.08% and a return on equity of 16.11%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS.
Hedge Funds Weigh In On Avient
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its stake in Avient by 22.7% during the first quarter. Raymond James & Associates now owns 29,947 shares of the company's stock worth $1,437,000 after acquiring an additional 5,546 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Avient by 2.2% in the first quarter. American Century Companies Inc. now owns 10,341 shares of the company's stock valued at $496,000 after acquiring an additional 221 shares during the period. US Bancorp DE boosted its position in shares of Avient by 3.5% in the first quarter. US Bancorp DE now owns 8,862 shares of the company's stock valued at $425,000 after acquiring an additional 297 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Avient in the first quarter valued at approximately $110,000. Finally, Bank of Montreal Can lifted its position in Avient by 9.4% during the first quarter. Bank of Montreal Can now owns 15,146 shares of the company's stock valued at $748,000 after purchasing an additional 1,296 shares during the last quarter. 93.81% of the stock is currently owned by institutional investors and hedge funds.
Avient Company Profile
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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.
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