OMNOVA Solutions Inc. (OMN) Upgraded to Hold at BidaskClub
OMNOVA Solutions Inc. (NYSE:OMN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 target price on shares of OMNOVA Solutions in a report on Friday, June 16th. Sidoti assumed coverage on shares of OMNOVA Solutions in a report on Tuesday, June 13th. They issued a “buy” rating and a $12.00 target price for the company. Finally, ValuEngine upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.67.
OMNOVA Solutions (NYSE OMN) traded down 1.08% during trading on Wednesday, hitting $9.20. 92,071 shares of the stock were exchanged. The firm’s market cap is $413.18 million. The stock’s 50-day moving average price is $9.54 and its 200-day moving average price is $9.17. 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 earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. OMNOVA Solutions had a negative net margin of 1.19% and a positive return on equity of 19.65%. The company had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $204.40 million. During the same period last year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts expect that OMNOVA Solutions will post $0.59 EPS for the current year.
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Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its stake in 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 buying an additional 288 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in 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 valued at $100,000 after buying an additional 472 shares in the last quarter. Citigroup Inc. boosted its stake in OMNOVA Solutions by 3.6% in the second quarter. Citigroup Inc. now owns 27,344 shares of the specialty chemicals company’s stock valued at $267,000 after buying an additional 954 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in 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 valued at $352,000 after buying an additional 1,614 shares in the last quarter. Finally, American International Group Inc. boosted its stake in 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 valued at $259,000 after buying an additional 1,738 shares in the last quarter. Institutional investors and hedge funds 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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