OMNOVA Solutions Inc. (OMN) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of OMNOVA Solutions Inc. (NYSE:OMN) from a hold rating to a sell rating in a report published on Tuesday morning.
A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded OMNOVA Solutions from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Friday, July 7th. Jefferies Group LLC restated a buy rating and issued a $12.00 price objective on shares of OMNOVA Solutions in a report on Friday, June 16th. Sidoti assumed coverage on OMNOVA Solutions in a report on Tuesday, June 13th. They issued a buy rating and a $12.00 price objective on the stock. Finally, ValuEngine upgraded OMNOVA Solutions from a hold rating to a buy rating in a report on Saturday, June 10th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $11.67.
OMNOVA Solutions (OMN) opened at 8.65 on Tuesday. The stock has a 50 day moving average of $9.38 and a 200-day moving average of $9.15. The company’s market capitalization is $388.48 million. OMNOVA Solutions has a 12-month low of $7.05 and a 12-month high of $10.42.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $221.30 million for the quarter, compared to the consensus estimate of $204.40 million. OMNOVA Solutions had a positive return on equity of 18.52% and a negative net margin of 1.19%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. Equities analysts expect that OMNOVA Solutions will post $0.59 earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its stake in shares of OMNOVA Solutions by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 36,089 shares of the specialty chemicals company’s stock valued at $352,000 after buying an additional 1,614 shares during the last quarter. State Street Corp increased its stake in shares of OMNOVA Solutions by 2.7% in the second quarter. State Street Corp now owns 848,085 shares of the specialty chemicals company’s stock valued at $8,275,000 after buying an additional 22,333 shares during the last quarter. Royal Bank of Canada increased its stake in shares of OMNOVA Solutions by 5.3% in the second quarter. Royal Bank of Canada now owns 4,817,031 shares of the specialty chemicals company’s stock valued at $46,966,000 after buying an additional 243,379 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of OMNOVA Solutions by 107.8% in the second quarter. Goldman Sachs Group Inc. now owns 83,727 shares of the specialty chemicals company’s stock valued at $817,000 after buying an additional 43,436 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of OMNOVA Solutions by 11.8% in the second quarter. Voya Investment Management LLC now owns 27,727 shares of the specialty chemicals company’s stock valued at $270,000 after buying an additional 2,917 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.
OMNOVA Solutions Company Profile
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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