OMNOVA Solutions (OMN) Upgraded at Zacks Investment Research

OMNOVA Solutions (NYSE:OMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

Several other equities analysts have also commented on OMN. Jefferies Group reaffirmed a “buy” rating and set a $12.00 target price on shares of OMNOVA Solutions in a report on Thursday, October 12th. ValuEngine lowered shares of OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.67.

OMNOVA Solutions (NYSE OMN) traded down $0.10 during trading on Thursday, hitting $10.10. 135,983 shares of the stock traded hands, compared to its average volume of 126,685. The company has a debt-to-equity ratio of 9.16, a quick ratio of 1.71 and a current ratio of 2.37. The stock has a market cap of $455.40, a PE ratio of -5.13, a P/E/G ratio of 1.57 and a beta of 2.10. OMNOVA Solutions has a 12-month low of $8.10 and a 12-month high of $11.60.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.03). OMNOVA Solutions had a negative net margin of 11.20% and a positive return on equity of 25.30%. The company had revenue of $186.30 million for the quarter, compared to analysts’ expectations of $192.15 million. During the same quarter last year, the business posted $0.14 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. equities research analysts forecast that OMNOVA Solutions will post 0.67 EPS for the current year.

A number of institutional investors have recently made changes to their positions in OMN. Teacher Retirement System of Texas bought a new stake in OMNOVA Solutions in the 4th quarter worth $156,000. Stevens Capital Management LP bought a new stake in OMNOVA Solutions in the 3rd quarter worth $166,000. Nine Chapters Capital Management LLC bought a new stake in OMNOVA Solutions in the 3rd quarter worth $181,000. Cigna Investments Inc. New bought a new stake in OMNOVA Solutions in the 4th quarter worth $239,000. Finally, First Quadrant L P CA bought a new stake in OMNOVA Solutions in the 4th quarter worth $250,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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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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