OMNOVA Solutions’ (OMN) Hold Rating Reiterated at KeyCorp
A number of other brokerages also recently commented on OMN. BidaskClub downgraded shares of OMNOVA Solutions from a buy rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of OMNOVA Solutions from a hold rating to a buy rating and set a $11.00 price objective for the company in a research report on Friday, July 7th. ValuEngine upgraded shares of OMNOVA Solutions from a hold rating to a buy rating in a research report on Saturday, June 10th. Jefferies Group LLC restated a buy rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research report on Friday, June 16th. Finally, Sidoti assumed coverage on shares of OMNOVA Solutions in a research report on Tuesday, June 13th. They set a buy rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $11.67.
Shares of OMNOVA Solutions (NYSE:OMN) traded up 0.58% during midday trading on Thursday, hitting $8.65. 119,202 shares of the stock were exchanged. The firm’s 50-day moving average is $9.38 and its 200-day moving average is $9.15. The stock’s market cap is $388.48 million. OMNOVA Solutions has a 12 month low of $7.05 and a 12 month high of $10.42.
OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. The company had revenue of $221.30 million during the quarter, compared to the consensus estimate of $204.40 million. OMNOVA Solutions had a negative net margin of 1.19% and a positive return on equity of 18.52%. OMNOVA Solutions’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Equities research analysts predict that OMNOVA Solutions will post $0.59 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in OMNOVA Solutions by 80.9% in the fourth quarter. Teachers Advisors LLC now owns 231,691 shares of the specialty chemicals company’s stock worth $2,317,000 after buying an additional 103,649 shares during the period. LSV Asset Management boosted its position in OMNOVA Solutions by 4.7% in the first quarter. LSV Asset Management now owns 563,400 shares of the specialty chemicals company’s stock worth $5,577,000 after buying an additional 25,500 shares during the period. Algert Global LLC boosted its position in OMNOVA Solutions by 45.4% in the first quarter. Algert Global LLC now owns 78,613 shares of the specialty chemicals company’s stock worth $778,000 after buying an additional 24,530 shares during the period. American Century Companies Inc. boosted its position in OMNOVA Solutions by 33.9% in the first quarter. American Century Companies Inc. now owns 278,881 shares of the specialty chemicals company’s stock worth $2,761,000 after buying an additional 70,630 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in OMNOVA Solutions by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 3,016,312 shares of the specialty chemicals company’s stock worth $29,862,000 after buying an additional 236,605 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.
About OMNOVA Solutions
OMNOVA Solutions Inc is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company’s segments include Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene, styrene butadiene acrylonitrile, styrene butadiene vinyl pyridine, nitrile butadiene, polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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