What You Need To Know About Avient Corporation (AVNT)

Avient Corporation (NYSE:AVNT) finished Friday with an addition of $0.91 to close at $53.46, an upside of 1.73 percent. An average of 305,340 shares of common stock have been traded in the last five days. There was a gain of $2.29 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 292,775 shares traded, while the 50-day average volume stands at 327,222.

AVNT stock has increased by 13.87% in the last month. The company shares reached their 1-month lowest point of $45.49 on 10/01/21. With the stock rallying to its 52-week high on 05/10/21, shares of the company touched a low of $29.85 and a high of $54.21 in 52 weeks. It has reached a new high 15 times so far this year and achieved 32.72% or $13.18 in price. In spite of this, the price is down -1.38% from the 52-week high.

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Insider Transactions

143 days have passed since Avient Corporation (AVNT) last reported insider trading activity. Garratt Michael A, who is SVP, President CAI – EMEA, most recently acquired $5,347 shares at $52.23 per share on Jun 02. In this transaction, the insider spent $279,262. SVP, Mergers & Acquisitions, Rathbun Joel R., disposed of 4,494 shares at a price of $53.05 on May 14. The insider now owns more than $238,406 worth of shares. Prior to that, SVP, Mergers & Acquisitions Rathbun Joel R. went on to Sale 5,773 shares at $52.24 each on May 13. An amount of $301,600 was transacted.

Valuation Metrics

Avient Corporation (AVNT) has a trailing price-to-earnings (P/E) ratio of 21.95, which compares with the 17.00 for the broader industry and 13.81 for the sector. In the last five years, Avient Corporation’s PE ratio has ranged between 35.08 and 1.335. The stock’s beta is 1.65. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.10, the price-to-book (PB) ratio at 2.76, and the price-to-cash flow ratio at 50.66.

Avient Corporation pays a $0.85 dividend per share annually. It offers a dividend yield of 1.59%. The company has a payout ratio of 33.80%. The company’s most recent quarterly dividend payment was $0.2370 a share, representing a up of 11.27% from $0.2130 last year. Its dividend has been increased for the last 2 consecutive years with the latest increase dividend $0.0240 reported on Thursday October 14 2021.

The quick ratio of Avient Corporation for the three months ended June 29 was 1.50, and the current ratio was 2.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.05 and a total debt to equity ratio of 1.06 for the quarter ending June 29. Avient Corporation’s EBITDA margin for the year ending June 29 is 10.27%, while its operating margin for the same period stands at 7.60%. Its gross profit as reported stood at $784.3 million compared to revenue of $3.24 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Avient Corporation’s return on assets was 4.60%. For the broader industry, ROE averaged 8.64 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Avient Corporation had $1.85 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $68.8 million in the quarter, while revenues of $79.3 million were grew 66.86%. The analyst consensus anticipated Avient Corporation’s latest quarter earnings to come in at $0.81 per share, but it turned out to be $0.87, a 7.40% surprise. For the quarter, EBITDA amounted to $141.9 million. Shareholders own equity worth $91.3 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Avient Corporation (AVNT) price momentum. RSI 9-day as of the close on 22 October was 82.64%, suggesting the stock is Overbought, with historical volatility in this time frame at 17.36%.

As of today, AVNT’s price is $52.10 +4.48% or $2.29 from its 5-day moving average. AVNT is currently trading +14.55% higher than its 20-day SMA and +3.14% higher than its 100-day SMA. However, the stock’s current price level is +8.26% above the SMA50 and +16.98% above the SMA200.

The stochastic %K and %D were 98.40% and 95.99%, respectively, and the average true range (ATR) was 1.23. With the 14-day stochastic at 96.54% and the average true range at 1.27, the RSI (14) stands at 73.59%. The stock has reached 1.94 on the 9-day MACD Oscillator while the 14-day reading was at 2.98.

Analyst Ratings

Stifel upgraded Avient Corporation (NYSE: AVNT) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Avient Corporation (AVNT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AVNT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.

What is AVNT’s price target for the next 12 months?

Analysts predict a range of price targets between $57.00 and $69.00, with a median target of $60.50. Taking a look at these predictions, the average price target given by analysts for Avient Corporation (AVNT) stock is $61.80.


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