ValuEngine Downgrades OMNOVA Solutions (OMN) to Hold

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

A number of other analysts have also recently weighed in on the stock. Jefferies Group cut shares of OMNOVA Solutions from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. OMNOVA Solutions presently has a consensus rating of “Hold” and an average target price of $11.67.

OMN stock traded up $0.10 during midday trading on Thursday, reaching $10.15. 1,302 shares of the company were exchanged, compared to its average volume of 142,838. The company has a current ratio of 2.03, a quick ratio of 1.31 and a debt-to-equity ratio of 6.66. OMNOVA Solutions has a 1-year low of $10.25 and a 1-year high of $10.45. The stock has a market cap of $490.67 million, a P/E ratio of 18.25, a PEG ratio of 1.64 and a beta of 2.10.

OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Wednesday, March 28th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. OMNOVA Solutions had a negative net margin of 10.67% and a positive return on equity of 32.70%. The company had revenue of $178.70 million for the quarter, compared to analysts’ expectations of $174.65 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. equities research analysts predict that OMNOVA Solutions will post 0.67 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Thrivent Financial For Lutherans increased its holdings in shares of OMNOVA Solutions by 16.4% in the 4th quarter. Thrivent Financial For Lutherans now owns 636,981 shares of the specialty chemicals company’s stock valued at $6,370,000 after acquiring an additional 89,864 shares during the period. Wells Fargo & Company MN increased its holdings in shares of OMNOVA Solutions by 54.8% in the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the specialty chemicals company’s stock valued at $890,000 after acquiring an additional 28,768 shares during the period. Weber Alan W increased its holdings in shares of OMNOVA Solutions by 1.3% in the 4th quarter. Weber Alan W now owns 447,500 shares of the specialty chemicals company’s stock valued at $4,475,000 after acquiring an additional 5,600 shares during the period. Two Sigma Advisers LP increased its holdings in shares of OMNOVA Solutions by 19.1% in the 4th quarter. Two Sigma Advisers LP now owns 158,490 shares of the specialty chemicals company’s stock valued at $1,585,000 after acquiring an additional 25,463 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of OMNOVA Solutions by 69.6% in the 4th quarter. Millennium Management LLC now owns 747,896 shares of the specialty chemicals company’s stock valued at $7,479,000 after acquiring an additional 306,890 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

OMNOVA Solutions Company Profile

OMNOVA Solutions Inc provides emulsion polymers, specialty chemicals, and engineered surfaces for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. The company operates in two segments, Specialty Solutions and Performance Materials. The Specialty Solutions segment designs, develops, produces, and markets specialty polymers which are used in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.

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