BidaskClub upgraded shares of OMNOVA Solutions Inc. (NYSE:OMN) from a sell rating to a hold rating in a report published on Wednesday.
Several other analysts have also recently weighed in on OMN. Sidoti began coverage on OMNOVA Solutions in a report on Tuesday, June 13th. They set a buy rating and a $12.00 price target for the company. Zacks Investment Research lowered OMNOVA Solutions from a buy rating to a hold rating in a research note on Thursday, June 1st. ValuEngine upgraded OMNOVA Solutions from a hold rating to a buy rating in a research note on Saturday, June 10th. Finally, Jefferies Group LLC restated a buy rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research note on Friday, June 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $11.67.
Shares of OMNOVA Solutions (NYSE:OMN) opened at 8.75 on Wednesday. OMNOVA Solutions has a 12-month low of $7.05 and a 12-month high of $10.42. The firm’s market capitalization is $392.97 million. The company has a 50-day moving average price of $9.50 and a 200 day moving average price of $9.16.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The business had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $204.40 million. OMNOVA Solutions had a positive return on equity of 19.65% and a negative net margin of 1.19%. 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 posted $0.18 EPS. Equities research analysts expect that OMNOVA Solutions will post $0.59 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in OMNOVA Solutions by 5.3% in the second quarter. Royal Bank of Canada now owns 4,817,031 shares of the specialty chemicals company’s stock worth $46,966,000 after buying an additional 243,379 shares during the period. Wellington Management Group LLP raised its position in shares of OMNOVA Solutions by 10.5% in the first quarter. Wellington Management Group LLP now owns 4,406,794 shares of the specialty chemicals company’s stock valued at $43,627,000 after buying an additional 420,349 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 valued at $29,862,000 after buying an additional 236,605 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of OMNOVA Solutions by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,209,084 shares of the specialty chemicals company’s stock valued at $21,538,000 after buying an additional 14,945 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of OMNOVA Solutions by 4.3% in the second quarter. Vanguard Group Inc. now owns 1,814,048 shares of the specialty chemicals company’s stock valued at $17,686,000 after buying an additional 74,636 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.
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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