Zacks Investment Research upgraded shares of PolyOne (NYSE:POL) from a hold rating to a buy rating in a research report released on Wednesday, December 27th. Zacks Investment Research currently has $49.00 price target on the specialty chemicals company’s stock.
According to Zacks, “PolyOne Corporation provides specialized polymer materials, services and solutions in the United States and internationally. Its Colour, Additives, and Inks segment offers specialized colour and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols etc. The company’s Specialty Engineered Materials segment provides specialty polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials etc. Its Designed Structures and Solutions segment produce sheet, custom rollstock and specialty film, laminate, and acrylic solutions. The company’s Performance Products and Solutions segment offers vinyl molding and extrusion processors to manufacturers of durable plastic parts and consumer-oriented products. The PolyOne Distribution segment distributes approximately 4,000 grades of engineering and commodity grade resins to custom injection molders and extruders. “
POL has been the subject of a number of other reports. SunTrust Banks reaffirmed a buy rating and set a $42.00 price objective on shares of PolyOne in a report on Friday, October 27th. Jefferies Group reaffirmed a hold rating and set a $42.00 price objective on shares of PolyOne in a report on Thursday, October 19th. Robert W. Baird reissued a buy rating and set a $42.00 price target on shares of PolyOne in a report on Thursday, October 12th. Finally, KeyCorp set a $47.00 price target on shares of PolyOne and gave the company a buy rating in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $44.00.
PolyOne (POL) opened at $45.65 on Wednesday. The company has a market cap of $3,650.00, a PE ratio of 21.84, a PEG ratio of 1.85 and a beta of 1.83. PolyOne has a 1-year low of $31.68 and a 1-year high of $46.79. The company has a current ratio of 1.96, a quick ratio of 1.38 and a debt-to-equity ratio of 2.32.
PolyOne (NYSE:POL) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $818.50 million during the quarter, compared to the consensus estimate of $789.32 million. PolyOne had a negative net margin of 1.87% and a positive return on equity of 27.77%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. research analysts anticipate that PolyOne will post 2.19 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its holdings in PolyOne by 3.1% during the 2nd quarter. Alliancebernstein L.P. now owns 3,090,961 shares of the specialty chemicals company’s stock valued at $119,744,000 after purchasing an additional 92,253 shares during the last quarter. State Street Corp lifted its holdings in PolyOne by 3.2% during the 2nd quarter. State Street Corp now owns 2,778,681 shares of the specialty chemicals company’s stock valued at $107,643,000 after purchasing an additional 86,473 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in PolyOne by 11.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,343,438 shares of the specialty chemicals company’s stock valued at $93,808,000 after purchasing an additional 246,918 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in PolyOne by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,099,348 shares of the specialty chemicals company’s stock valued at $84,039,000 after purchasing an additional 30,766 shares during the last quarter. Finally, Channing Capital Management LLC increased its position in PolyOne by 0.9% in the 3rd quarter. Channing Capital Management LLC now owns 2,023,226 shares of the specialty chemicals company’s stock valued at $80,990,000 after acquiring an additional 17,745 shares in the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.
PolyOne Company Profile
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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