PolyOne Corporation (POL) Rating Increased to Hold at Zacks Investment Research
PolyOne Corporation (NYSE:POL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “
Several other research firms have also issued reports on POL. BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. CIBC began coverage on PolyOne Corporation in a report on Thursday. They issued an “outperform” rating and a $43.00 price target on the stock. TheStreet upgraded PolyOne Corporation from a “c+” rating to a “b-” rating in a report on Monday, April 24th. Finally, Oppenheimer Holdings, Inc. began coverage on PolyOne Corporation in a report on Wednesday. They issued an “outperform” rating and a $43.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $40.80.
PolyOne Corporation (NYSE POL) opened at 36.43 on Friday. The stock’s market capitalization is $2.98 billion. PolyOne Corporation has a 52 week low of $28.77 and a 52 week high of $40.88. The firm has a 50-day moving average price of $37.27 and a 200-day moving average price of $36.19.
PolyOne Corporation (NYSE:POL) last posted its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The business had revenue of $814.10 million during the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. Equities research analysts predict that PolyOne Corporation will post $2.21 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in PolyOne Corporation by 85.7% in the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 1,200 shares during the last quarter. Advisor Group Inc. increased its position in PolyOne Corporation by 2.6% in the second quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock valued at $126,000 after buying an additional 84 shares during the last quarter. Quantbot Technologies LP purchased a new position in PolyOne Corporation during the second quarter valued at approximately $143,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PolyOne Corporation by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 1,370 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in PolyOne Corporation by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock valued at $144,000 after buying an additional 1,336 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.
PolyOne Corporation Company Profile
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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