OMNOVA Solutions Inc. (OMN) Receives Consensus Recommendation of “Hold” from Brokerages
OMNOVA Solutions Inc. (NYSE:OMN) has earned a consensus recommendation of “Hold” from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.00.
Several research analysts recently commented on OMN shares. BidaskClub downgraded shares of OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of OMNOVA Solutions from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, July 7th. KeyCorp reaffirmed a “hold” rating on shares of OMNOVA Solutions in a report on Thursday, August 24th. ValuEngine raised shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of OMNOVA Solutions in a report on Thursday.
Shares of OMNOVA Solutions (OMN) opened at 11.45 on Monday. The firm’s market capitalization is $513.73 million. OMNOVA Solutions has a 52-week low of $7.05 and a 52-week high of $11.55. The stock has a 50 day moving average of $9.65 and a 200-day moving average of $9.30.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $200.90 million during the quarter, compared to the consensus estimate of $203.12 million. OMNOVA Solutions had a negative net margin of 0.78% and a positive return on equity of 22.71%. OMNOVA Solutions’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. Equities analysts expect that OMNOVA Solutions will post $0.60 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of OMN. Karp Capital Management Corp purchased a new stake in OMNOVA Solutions in the 1st quarter worth approximately $158,000. Envestnet Asset Management Inc. lifted its stake in OMNOVA Solutions by 4.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 472 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in OMNOVA Solutions by 0.8% in the 1st quarter. JPMorgan Chase & Co. now owns 535,264 shares of the specialty chemicals company’s stock worth $5,299,000 after purchasing an additional 4,328 shares in the last quarter. American International Group Inc. lifted its stake in OMNOVA Solutions by 7.1% in the 1st quarter. American International Group Inc. now owns 26,169 shares of the specialty chemicals company’s stock worth $259,000 after purchasing an additional 1,738 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in OMNOVA Solutions by 10.5% in the 1st quarter. Wellington Management Group LLP now owns 4,406,794 shares of the specialty chemicals company’s stock worth $43,627,000 after purchasing an additional 420,349 shares in the last quarter. Institutional investors and hedge funds own 88.01% of the company’s stock.
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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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