Seaport Res Ptn Brokers Lower Earnings Estimates for Avient

Avient Co. (NYSE:AVNT) – Stock analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for Avient in a research report issued on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts that the company will post earnings of $2.65 per share for the year, down from their prior estimate of $2.66. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Avient’s current full-year earnings is $2.65 per share. Seaport Res Ptn also issued estimates for Avient’s Q4 2024 earnings at $0.48 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.84 EPS.

Several other equities analysts have also weighed in on AVNT. Wells Fargo & Company raised their price objective on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Oppenheimer raised their price target on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Avient has a consensus rating of “Moderate Buy” and an average price target of $55.50.

Avient Stock Up 1.7 %

AVNT opened at $43.06 on Friday. The company has a market capitalization of $3.93 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. Avient has a fifty-two week low of $35.58 and a fifty-two week high of $54.68. The business has a 50-day moving average of $45.16 and a 200-day moving average of $46.52.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. Avient’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS.

Institutional Investors Weigh In On Avient

Several hedge funds have recently modified their holdings of the business. Westfield Capital Management Co. LP grew its position in Avient by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company’s stock worth $76,620,000 after purchasing an additional 63,138 shares during the last quarter. Sei Investments Co. boosted its stake in Avient by 39.4% during the second quarter. Sei Investments Co. now owns 155,763 shares of the company’s stock worth $6,799,000 after buying an additional 44,026 shares in the last quarter. FMR LLC lifted its holdings in shares of Avient by 288.0% during the 3rd quarter. FMR LLC now owns 26,138 shares of the company’s stock worth $1,315,000 after acquiring an additional 19,401 shares during the period. Cerity Partners LLC increased its stake in Avient by 48.5% in the third quarter. Cerity Partners LLC now owns 30,868 shares of the company’s stock valued at $1,553,000 after acquiring an additional 10,088 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Avient by 22.4% in the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock worth $30,626,000 after purchasing an additional 111,489 shares in the last quarter. 95.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.88% of the stock is owned by insiders.

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.