Zacks Investment Research upgraded shares of OMNOVA Solutions (NYSE:OMN) from a hold rating to a buy rating in a research note released on Thursday morning. They currently have $11.00 target price on the specialty chemicals company’s stock.
According to Zacks, “Omnova Solutions Inc. develops, manufactures and markets emulsion polymers, specialty chemicals and decorative and building products for a variety of industrial, commercial and consumer markets. The Performance Chemicals unit’s broad range of emulsion polymers and specialty chemicals are used as coatings, binders, adhesives, and additives for paper, carpet, textile and various other industries. “
Several other equities analysts also recently commented on OMN. BidaskClub downgraded OMNOVA Solutions from a hold rating to a sell rating in a research report on Wednesday, August 9th. KeyCorp reaffirmed a hold rating on shares of OMNOVA Solutions in a research report on Thursday, August 24th. ValuEngine raised OMNOVA Solutions from a hold rating to a buy rating in a research report on Thursday, September 28th. Finally, Jefferies Group reaffirmed a buy rating and issued a $12.00 target price on shares of OMNOVA Solutions in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. OMNOVA Solutions has an average rating of Hold and a consensus target price of $11.67.
Shares of OMNOVA Solutions (NYSE:OMN) traded down $0.05 during midday trading on Thursday, reaching $9.95. The company’s stock had a trading volume of 98,700 shares, compared to its average volume of 137,042. The firm has a market capitalization of $446.43, a P/E ratio of 16.67, a PEG ratio of 1.45 and a beta of 2.17. The company has a current ratio of 2.38, a quick ratio of 1.71 and a debt-to-equity ratio of 2.78. OMNOVA Solutions has a 1 year low of $8.10 and a 1 year high of $11.60.
OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. OMNOVA Solutions had a positive return on equity of 22.71% and a negative net margin of 0.78%. The firm had revenue of $200.90 million for the quarter, compared to the consensus estimate of $203.12 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. equities analysts forecast that OMNOVA Solutions will post 0.62 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of OMN. Acrospire Investment Management LLC grew its position in shares of OMNOVA Solutions by 2.2% in the second quarter. Acrospire Investment Management LLC now owns 13,632 shares of the specialty chemicals company’s stock valued at $133,000 after purchasing an additional 288 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of OMNOVA Solutions in the third quarter valued at approximately $166,000. Nine Chapters Capital Management LLC acquired a new position in shares of OMNOVA Solutions in the third quarter valued at approximately $181,000. Acadian Asset Management LLC acquired a new position in shares of OMNOVA Solutions in the second quarter valued at approximately $185,000. Finally, Marshall Wace North America L.P. acquired a new stake in OMNOVA Solutions during the second quarter worth approximately $221,000. 88.89% of the stock is currently owned by institutional investors.
OMNOVA Solutions Company Profile
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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