OMNOVA Solutions’ (OMN) Hold Rating Reaffirmed at KeyCorp
Several other brokerages also recently commented on OMN. BidaskClub downgraded shares of OMNOVA Solutions from a buy rating to a hold rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of OMNOVA Solutions from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Friday, July 7th. ValuEngine raised shares of OMNOVA Solutions from a hold rating to a buy rating in a research note on Saturday, June 10th. Jefferies Group LLC reissued a buy rating and issued a $12.00 price objective on shares of OMNOVA Solutions in a research note on Friday, June 16th. Finally, Sidoti began coverage on shares of OMNOVA Solutions in a research note on Tuesday, June 13th. They issued a buy rating and a $12.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. OMNOVA Solutions has a consensus rating of Buy and an average target price of $11.67.
Shares of OMNOVA Solutions (OMN) traded up 0.58% during trading on Thursday, reaching $8.65. The company had a trading volume of 119,202 shares. The firm has a 50-day moving average of $9.38 and a 200-day moving average of $9.15. The company’s market cap 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 issued its quarterly earnings data on Wednesday, June 28th. The specialty chemicals company reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The business had revenue of $221.30 million during the quarter, compared to the consensus estimate of $204.40 million. OMNOVA Solutions had a negative net margin of 1.19% and a positive return on equity of 18.52%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that OMNOVA Solutions will post $0.59 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC increased its position in OMNOVA Solutions by 45.4% in the first quarter. Algert Global LLC now owns 78,613 shares of the specialty chemicals company’s stock valued at $778,000 after buying an additional 24,530 shares during the last quarter. JPMorgan Chase & Co. increased its position in OMNOVA Solutions by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 535,264 shares of the specialty chemicals company’s stock valued at $5,299,000 after buying an additional 4,328 shares during the last quarter. Nordea Investment Management AB increased its position in OMNOVA Solutions by 23.8% in the first quarter. Nordea Investment Management AB now owns 382,100 shares of the specialty chemicals company’s stock valued at $3,783,000 after buying an additional 73,400 shares during the last quarter. Trexquant Investment LP acquired a new position in OMNOVA Solutions during the first quarter valued at about $261,000. Finally, Teachers Advisors LLC increased its position in OMNOVA Solutions by 80.9% in the fourth quarter. Teachers Advisors LLC now owns 231,691 shares of the specialty chemicals company’s stock valued at $2,317,000 after buying an additional 103,649 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.
About OMNOVA Solutions
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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