CIBC Begins Coverage on PolyOne Corporation (POL)
CIBC began coverage on shares of PolyOne Corporation (NYSE:POL) in a report issued on Thursday. The brokerage set an “outperform” rating and a $43.00 price target on the specialty chemicals company’s stock. CIBC’s target price points to a potential upside of 17.17% from the company’s previous close.
A number of other brokerages also recently commented on POL. TheStreet raised PolyOne Corporation from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Zacks Investment Research raised PolyOne Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, May 3rd. Finally, BidaskClub lowered PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.80.
Shares of PolyOne Corporation (POL) traded up 0.38% on Thursday, hitting $36.84. The stock had a trading volume of 38,348 shares. The company’s market cap is $3.01 billion. PolyOne Corporation has a 52 week low of $28.77 and a 52 week high of $40.88. The stock’s 50-day moving average price is $37.38 and its 200 day moving average price is $36.17.
PolyOne Corporation (NYSE:POL) last issued its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. The firm had revenue of $814.10 million during the quarter, compared to the consensus estimate of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. On average, analysts predict that PolyOne Corporation will post $2.21 EPS for the current year.
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Several hedge funds have recently bought and sold shares of POL. OLD National Bancorp IN bought a new stake in shares of PolyOne Corporation during the first quarter worth approximately $565,000. Shaker Investments LLC OH raised its stake in shares of PolyOne Corporation by 14.5% in the first quarter. Shaker Investments LLC OH now owns 28,030 shares of the specialty chemicals company’s stock worth $956,000 after buying an additional 3,550 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of PolyOne Corporation by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 49,563 shares of the specialty chemicals company’s stock worth $1,688,000 after buying an additional 1,235 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of PolyOne Corporation during the first quarter worth $240,000. Finally, Channing Capital Management LLC raised its stake in shares of PolyOne Corporation by 11.5% in the first quarter. Channing Capital Management LLC now owns 2,182,877 shares of the specialty chemicals company’s stock worth $74,414,000 after buying an additional 225,911 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.
About PolyOne Corporation
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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