Zacks Investment Research Lowers Omnova Solutions Inc. (OMN) to Sell
Omnova Solutions Inc. (NYSE:OMN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Other research analysts also recently issued research reports about the company. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a research note on Thursday, June 30th. TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd.
Shares of Omnova Solutions (NYSE:OMN) opened at 8.05 on Wednesday. The company has a 50 day moving average of $9.06 and a 200-day moving average of $8.06. The firm’s market capitalization is $363.26 million. Omnova Solutions has a 12 month low of $4.37 and a 12 month high of $10.42.
Omnova Solutions (NYSE:OMN) last issued its earnings results on Thursday, September 22nd. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The business had revenue of $195.60 million for the quarter. Omnova Solutions had a positive return on equity of 18.39% and a negative net margin of 1.05%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. Analysts predict that Omnova Solutions will post $0.50 EPS for the current year.
In other Omnova Solutions news, Director James A. Mitarotonda purchased 38,313 shares of the firm’s stock in a transaction dated Thursday, September 29th. The stock was purchased at an average price of $8.11 per share, for a total transaction of $310,718.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.76% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of OMN. Nordea Investment Management AB acquired a new position in Omnova Solutions during the second quarter valued at $1,077,000. ClariVest Asset Management LLC acquired a new position in Omnova Solutions during the second quarter valued at $1,077,000. American Century Companies Inc. boosted its stake in Omnova Solutions by 86.2% in the second quarter. American Century Companies Inc. now owns 75,437 shares of the company’s stock worth $547,000 after buying an additional 34,926 shares during the period. Acadian Asset Management LLC boosted its stake in Omnova Solutions by 51.6% in the second quarter. Acadian Asset Management LLC now owns 18,472 shares of the company’s stock worth $134,000 after buying an additional 6,290 shares during the period. Finally, Royal Bank of Canada boosted its stake in Omnova Solutions by 3.4% in the first quarter. Royal Bank of Canada now owns 4,144,559 shares of the company’s stock worth $23,043,000 after buying an additional 137,590 shares during the period. Hedge funds and other institutional investors own 84.98% of the company’s stock.
Omnova Solutions Company Profile
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
Receive News & Stock Ratings for Omnova Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnova Solutions Inc. and related stocks with our FREE daily email newsletter.