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In a turbulent market environment, AVNT, formerly known as PolyOne Corp (NYSE:AVNT), has seen its stock price touch a 52-week low, reaching $28.88. The company, with a market capitalization of $2.7 billion, maintains strong dividend credentials, having raised its dividend for 14 consecutive years with a current yield of 3.55%. This downturn reflects a significant retreat from better-performing times, with the company's shares grappling with a substantial 1-year change, plummeting by -30.03%. Investors are closely monitoring AVNT's performance as it navigates through the pressures that have led to this year-long decline, seeking signs of a potential rebound or further indicators of market headwinds that could impact the stock's trajectory. According to InvestingPro analysis, the stock appears undervalued, with analysts setting price targets between $43 and $60. The RSI indicator suggests the stock is in oversold territory, potentially presenting an opportunity for value investors.
In other recent news, Avient Corporation reported its fourth-quarter earnings for 2024, meeting analyst expectations with an earnings per share (EPS) of $0.49. The company's revenue for the quarter was $747 million, slightly below the forecasted $755.91 million. Despite the revenue miss, Avient's full-year guidance projects significant growth in adjusted EPS and EBITDA for 2025. Avient has been focusing on strategic innovations, particularly in the healthcare and defense sectors, which are driving growth.
Additionally, Seaport Global Securities upgraded Avient's stock rating from Neutral to Buy, setting a price target of $56.00, reflecting confidence in the company's positive organic growth and strategic approach. Meanwhile, Oppenheimer adjusted its price target for Avient to $54.00 from $56.00, maintaining an Outperform rating despite a slight reduction. The firm noted Avient's recovery in end-markets and market share gains, with full-year 2025 guidance slightly below analyst expectations.
Baird initiated coverage on Avient with a Neutral rating and a price target of $43.00, acknowledging the company's organizational refocus under a new CEO. Avient is expected to enhance financial performance, although Baird's current strategy favors more defensive positions. The company is also transitioning its enterprise resource planning system, which is anticipated to lead to around $75 million in mostly non-cash charges for the year.
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