Morgan Stanley analyst Angel Castillo maintained a Hold rating on Avient (AVNT – Research Report) today and set a price target of $40.00. The company’s shares opened today at $42.31.
According to TipRanks, Castillo is an analyst with an average return of -16.1% and a 47.37% success rate. Castillo covers the Basic Materials sector, focusing on stocks such as Crown Holdings, Olin, and Avient.
Currently, the analyst consensus on Avient is a Strong Buy with an average price target of $47.00.
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Based on Avient’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $790.4 million and a net profit of $544.5 million. In comparison, last year the company earned a revenue of $2.31 billion and had a net profit of $29.8 million
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PolyOne Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers and silicone colorants. It operates through the following segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, speciality inks, plasticols, and vinyl slush molding solutions. The Specialty Engineered Materials segment makes polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials. The Distribution segment distributes engineering and commodity grade resins, including PolyOne-produced solutions, principally to the North American, Central American, and Asian markets. The firm’s products include polymer distribution, screen printing inks, and thermoplastic elastomers. Its services include IQ design and color services. The company was founded on August 31, 2000 and is headquartered in Avon Lake, OH.
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