OMNOVA Solutions Inc. (NYSE:OMN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded OMNOVA Solutions from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday, July 7th. 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. Sidoti assumed coverage on OMNOVA Solutions in a research note on Tuesday, June 13th. They set a “buy” rating and a $12.00 price objective for the company. Finally, ValuEngine upgraded OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.67.
Shares of OMNOVA Solutions (OMN) traded up 4.60% during trading on Tuesday, hitting $9.10. The stock had a trading volume of 44,857 shares. OMNOVA Solutions has a 12-month low of $7.05 and a 12-month high of $10.42. The stock has a 50-day moving average of $9.47 and a 200 day moving average of $9.16. The firm’s market cap is $408.69 million.
OMNOVA Solutions (NYSE:OMN) last posted its earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. OMNOVA Solutions had a positive return on equity of 19.65% and a negative net margin of 1.19%. The business had revenue of $221.30 million during the quarter, compared to analyst estimates of $204.40 million. During the same quarter last year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts predict that OMNOVA Solutions will post $0.59 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of OMN. Acrospire Investment Management LLC raised its stake 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 worth $133,000 after buying an additional 288 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of OMNOVA Solutions by 4.9% in the first quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 472 shares during the period. Citigroup Inc. raised its stake in shares of OMNOVA Solutions by 3.6% in the second quarter. Citigroup Inc. now owns 27,344 shares of the specialty chemicals company’s stock worth $267,000 after buying an additional 954 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of OMNOVA Solutions by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 36,089 shares of the specialty chemicals company’s stock worth $352,000 after buying an additional 1,614 shares during the period. Finally, American International Group Inc. raised its stake in shares of OMNOVA Solutions by 7.1% in the first quarter. American International Group Inc. now owns 26,169 shares of the specialty chemicals company’s stock worth $259,000 after buying an additional 1,738 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.
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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