Avient (NYSE:AVNT) Raised to Buy at Deutsche Bank Aktiengesellschaft

Avient (NYSE:AVNT) was upgraded by Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com reports. The firm currently has a $52.00 price objective on the stock, up from their previous price objective of $49.00. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 15.89% from the company’s previous close.

AVNT has been the topic of a number of other research reports. Wells Fargo & Company lifted their target price on shares of Avient from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their target price on shares of Avient from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Oppenheimer lifted their target price on shares of Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th.

Avient Stock Performance

NYSE AVNT opened at $44.87 on Wednesday. Avient has a 52-week low of $27.73 and a 52-week high of $47.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90. The company has a market capitalization of $4.09 billion, a P/E ratio of 39.02, a P/E/G ratio of 1.24 and a beta of 1.47. The company has a fifty day moving average of $43.91 and a 200-day moving average of $42.25.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Avient had a net margin of 3.37% and a return on equity of 9.79%. The company had revenue of $850.00 million during the quarter, compared to the consensus estimate of $841.40 million. During the same period in the previous year, the firm posted $0.63 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Avient will post 2.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Avient

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of Avient during the 1st quarter valued at about $35,000. GAMMA Investing LLC boosted its stake in shares of Avient by 88.6% during the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after purchasing an additional 381 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Avient by 42.8% during the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Avient during the 2nd quarter valued at about $119,000. Finally, Lazard Asset Management LLC bought a new stake in Avient during the first quarter worth about $133,000. Institutional investors own 95.48% of the company’s stock.

Avient 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 custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.