Avantor (NYSE:AVTR) Price Target Cut to $19.00 by Analysts at Barclays

Avantor (NYSE:AVTR) had its target price lowered by investment analysts at Barclays from $21.00 to $19.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 60.20% from the company’s previous close.

A number of other equities research analysts also recently issued reports on AVTR. Cowen restated a “buy” rating and issued a $23.00 target price on shares of Avantor in a report on Friday, February 7th. Raymond James lowered their target price on shares of Avantor from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Wells Fargo & Co started coverage on shares of Avantor in a report on Tuesday, January 7th. They issued an “overweight” rating and a $22.00 target price for the company. Finally, Citigroup lowered their target price on shares of Avantor from $22.00 to $11.00 and set a “buy” rating for the company in a report on Friday, March 20th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.98.

Avantor stock traded up $0.74 during trading on Thursday, reaching $11.86. The company had a trading volume of 107,962 shares, compared to its average volume of 3,568,351. Avantor has a 12-month low of $6.66 and a 12-month high of $19.58. The stock’s 50 day moving average price is $15.14 and its two-hundred day moving average price is $16.16. The firm has a market capitalization of $6.72 billion and a price-to-earnings ratio of 20.40.

Avantor (NYSE:AVTR) last released its earnings results on Friday, February 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts expect that Avantor will post 0.76 earnings per share for the current year.

In other Avantor news, EVP Devashish Ohri sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $17.54, for a total transaction of $350,800.00. Following the completion of the sale, the executive vice president now directly owns 177,143 shares in the company, valued at $3,107,088.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp raised its holdings in Avantor by 20.4% in the third quarter. Stifel Financial Corp now owns 109,355 shares of the company’s stock valued at $1,610,000 after acquiring an additional 18,537 shares in the last quarter. California State Teachers Retirement System acquired a new stake in shares of Avantor during the third quarter worth $5,517,000. Sciencast Management LP acquired a new stake in shares of Avantor during the fourth quarter worth $494,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Avantor during the third quarter worth $204,000. Finally, Virtu Financial LLC acquired a new stake in shares of Avantor during the third quarter worth $348,000. Institutional investors own 80.39% of the company’s stock.

About Avantor

Avantor, Inc is a provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. It sells materials & consumables, equipment & instrumentation and services & specialty procurement. It operates in more than 30 countries and deliver an extensive portfolio of products and services.

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Analyst Recommendations for Avantor (NYSE:AVTR)

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