OMNOVA Solutions (OMN) Downgraded by ValuEngine

OMNOVA Solutions (NYSE:OMN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

OMN has been the subject of a number of other reports. Zacks Investment Research lowered OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of OMNOVA Solutions in a research note on Thursday, August 24th. BidaskClub downgraded OMNOVA Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Jefferies Group restated a “buy” rating and issued a $12.00 target price on shares of OMNOVA Solutions in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. OMNOVA Solutions has an average rating of “Hold” and an average target price of $11.67.

Shares of OMNOVA Solutions (OMN) traded down $0.50 on Thursday, reaching $10.70. The company’s stock had a trading volume of 387,552 shares, compared to its average volume of 137,890. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.38 and a quick ratio of 1.71. The company has a market cap of $507.50, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.84 and a beta of 2.22. OMNOVA Solutions has a 1 year low of $8.10 and a 1 year high of $11.60.

OMNOVA Solutions (NYSE:OMN) last issued its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The firm had revenue of $200.90 million during the quarter, compared to analyst estimates of $203.12 million. OMNOVA Solutions had a positive return on equity of 22.71% and a negative net margin of 0.78%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. analysts expect that OMNOVA Solutions will post 0.62 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its stake in shares of OMNOVA Solutions by 2.2% in the 2nd 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 last quarter. Citigroup Inc. boosted its stake in shares of OMNOVA Solutions by 3.6% in the 2nd 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 last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of OMNOVA Solutions by 4.7% in the 2nd 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 last quarter. Bank of America Corp DE boosted its stake in shares of OMNOVA Solutions by 1.7% in the 1st quarter. Bank of America Corp DE now owns 123,988 shares of the specialty chemicals company’s stock worth $1,227,000 after buying an additional 2,073 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of OMNOVA Solutions by 8.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 32,133 shares of the specialty chemicals company’s stock worth $318,000 after buying an additional 2,611 shares during the last quarter. Hedge funds and other institutional investors own 89.13% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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