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Avient (AVNT) Receives a Buy from Wells Fargo

Wells Fargo analyst Michael Sison maintained a Buy rating on Avient (AVNTResearch Report) on May 2 and set a price target of $65.00. The company’s shares closed last Friday at $48.75.

According to TipRanks.com, Sison is a 5-star analyst with an average return of 14.0% and a 61.8% success rate. Sison covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and Axalta Coating Systems.

Avient has an analyst consensus of Strong Buy, with a price target consensus of $69.33, implying a 40.4% upside from current levels. In a report issued on April 21, Jefferies also maintained a Buy rating on the stock with a $67.00 price target.

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The company has a one-year high of $61.46 and a one-year low of $43.69. Currently, Avient has an average volume of 450.2K.

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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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