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Avient (AVNT) Moves 6.1% Higher: Will This Strength Last?
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Avient (AVNT - Free Report) shares rallied 6.1% in the last trading session to close at $42.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.1% loss over the past four weeks.
AVNT’s rally appears to reflect upbeat prospects from the acquisition of the DSM Protective Materials business and growth in the company’s sustainable solutions and differentiated composite applications. The DSM Protective Materials buyout is expected to significantly expand the company’s composite and fiber portfolio.
This maker of resins used in plastic pipe and other products is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of +5.8%. Revenues are expected to be $1.29 billion, up 4.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Avient, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AVNT going forward to see if this recent jump can turn into more strength down the road.
Avient belongs to the Zacks Chemical - Diversified industry. Another stock from the same industry, Albemarle (ALB - Free Report) , closed the last trading session 5.2% higher at $224.79. Over the past month, ALB has returned -16.2%.
Albemarle's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $2.79. Compared to the company's year-ago EPS, this represents a change of +213.5%. Albemarle currently boasts a Zacks Rank of #1 (Strong Buy).
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Avient (AVNT) Moves 6.1% Higher: Will This Strength Last?
Avient (AVNT - Free Report) shares rallied 6.1% in the last trading session to close at $42.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.1% loss over the past four weeks.
AVNT’s rally appears to reflect upbeat prospects from the acquisition of the DSM Protective Materials business and growth in the company’s sustainable solutions and differentiated composite applications. The DSM Protective Materials buyout is expected to significantly expand the company’s composite and fiber portfolio.
This maker of resins used in plastic pipe and other products is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of +5.8%. Revenues are expected to be $1.29 billion, up 4.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Avient, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AVNT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Avient belongs to the Zacks Chemical - Diversified industry. Another stock from the same industry, Albemarle (ALB - Free Report) , closed the last trading session 5.2% higher at $224.79. Over the past month, ALB has returned -16.2%.
Albemarle's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $2.79. Compared to the company's year-ago EPS, this represents a change of +213.5%. Albemarle currently boasts a Zacks Rank of #1 (Strong Buy).