PolyOne Corporation (POL) Research Coverage Started at CIBC
Analysts at CIBC assumed coverage on shares of PolyOne Corporation (NYSE:POL) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating and a $43.00 price target on the specialty chemicals company’s stock. CIBC’s price objective points to a potential upside of 17.17% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of PolyOne Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, May 23rd. TheStreet raised shares of PolyOne Corporation from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Oppenheimer Holdings, Inc. began coverage on shares of PolyOne Corporation in a research note on Wednesday. They issued an “outperform” rating and a $43.00 price objective for the company. Finally, BidaskClub cut shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.80.
Shares of PolyOne Corporation (NYSE POL) traded down 0.25% on Thursday, hitting $36.61. 32,126 shares of the stock traded hands. PolyOne Corporation has a 52 week low of $28.77 and a 52 week high of $40.88. The stock’s market cap is $2.99 billion. The stock has a 50 day moving average price of $37.38 and a 200-day moving average price of $36.17.
PolyOne Corporation (NYSE:POL) last issued its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.63. The firm had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities research analysts forecast that PolyOne Corporation will post $2.21 EPS for the current year.
A number of large investors have recently made changes to their positions in POL. OLD National Bancorp IN purchased a new stake in shares of PolyOne Corporation during the first quarter valued at $565,000. Shaker Investments LLC OH boosted its stake in PolyOne Corporation by 14.5% in the first quarter. Shaker Investments LLC OH now owns 28,030 shares of the specialty chemicals company’s stock valued at $956,000 after buying an additional 3,550 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in PolyOne Corporation by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 49,563 shares of the specialty chemicals company’s stock valued at $1,688,000 after buying an additional 1,235 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in PolyOne Corporation during the first quarter valued at approximately $240,000. Finally, Channing Capital Management LLC boosted its stake in PolyOne Corporation by 11.5% in the first quarter. Channing Capital Management LLC now owns 2,182,877 shares of the specialty chemicals company’s stock valued at $74,414,000 after buying an additional 225,911 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.
About PolyOne Corporation
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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