Avient Corp (NYSE: AVNT) Loses -8.75% From High. Why That Could Change?

Currently, there are 91.20M common shares owned by the public and among those 89.45M shares have been available to trade.

The company’s stock has a 5-day price change of -0.61% and 8.58% over the past three months. AVNT shares are trading 5.08% year to date (YTD), with the 12-month market performance up to 8.79% higher. It has a 12-month low price of $27.73 and touched a high of $47.87 over the same period. AVNT has an average intraday trading volume of 435.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.54%, -0.58%, and 12.44% respectively.

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Institutional ownership of Avient Corp (NYSE: AVNT) shares accounts for 96.05% of the company’s 91.20M shares outstanding.

It has a market capitalization of $3.99B and a beta (3y monthly) value of 1.48. The stock’s trailing 12-month PE ratio is 38.18, while the earnings-per-share (ttm) stands at $1.14. The company has a PEG of 2.77 and a Quick Ratio of 1.42 with the debt-to-equity ratio at 0.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.35% over the week and 1.87% over the month.

Earnings per share for the fiscal year are expected to increase by 10.49%, and 13.55% over the next financial year. EPS should grow at an annualized rate of 13.79% over the next five years, compared to -16.13% over the past 5-year period.

Looking at the support for the AVNT, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on November 06, 2023, with the firm’s price target at $46-$37. Oppenheimer coverage for the Avient Corp (AVNT) stock in a research note released on February 16, 2023 offered a Outperform rating with a price target of $50. Stifel on their part issued Buy rating on February 11, 2021.

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