OMNOVA Solutions (NYSE:OMN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $11.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.99% from the company’s previous close.

According to Zacks, “Omnova Solutions Inc. develops, manufactures and markets emulsion polymers, specialty chemicals and decorative and building products for a variety of industrial, commercial and consumer markets. The Performance Chemicals unit’s broad range of emulsion polymers and specialty chemicals are used as coatings, binders, adhesives, and additives for paper, carpet, textile and various other industries. “

A number of other equities analysts have also recently issued reports on the company. KeyCorp restated a “hold” rating on shares of OMNOVA Solutions in a report on Thursday, August 24th. Jefferies Group restated a “buy” rating and set a $12.00 target price on shares of OMNOVA Solutions in a report on Thursday, October 12th. BidaskClub upgraded OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, ValuEngine raised OMNOVA Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.67.

Shares of OMNOVA Solutions (NYSE:OMN) traded down $0.30 on Thursday, reaching $9.65. The company’s stock had a trading volume of 94,372 shares, compared to its average volume of 103,571. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.71 and a current ratio of 2.38. OMNOVA Solutions has a 12-month low of $8.10 and a 12-month high of $11.60. The company has a market capitalization of $449.11, a PE ratio of 16.67, a P/E/G ratio of 1.45 and a beta of 2.18.

OMNOVA Solutions (NYSE:OMN) last issued its earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. OMNOVA Solutions had a positive return on equity of 22.71% and a negative net margin of 0.78%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $203.12 million. During the same quarter last year, the business earned $0.14 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. equities analysts expect that OMNOVA Solutions will post 0.62 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its position in shares of OMNOVA Solutions by 2.2% during the second quarter. Acrospire Investment Management LLC now owns 13,632 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 288 shares during the period. Stevens Capital Management LP acquired a new stake in shares of OMNOVA Solutions during the third quarter worth about $166,000. Nine Chapters Capital Management LLC acquired a new stake in shares of OMNOVA Solutions during the third quarter worth about $181,000. Acadian Asset Management LLC acquired a new stake in shares of OMNOVA Solutions during the second quarter worth about $185,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of OMNOVA Solutions during the second quarter worth about $221,000. 88.89% of the stock is currently owned by institutional investors.

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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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