Brokerages Set OMNOVA Solutions Inc. (OMN) Price Target at $12.00
OMNOVA Solutions Inc. (NYSE:OMN) has earned a consensus recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.00.
A number of analysts recently weighed in on OMN shares. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 price target on shares of OMNOVA Solutions in a research report on Thursday, October 12th. ValuEngine upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, July 7th. BidaskClub downgraded shares of OMNOVA Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, KeyCorp reiterated a “hold” rating on shares of OMNOVA Solutions in a research report on Thursday, August 24th.
Large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in shares of OMNOVA Solutions by 4.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock valued at $100,000 after acquiring an additional 472 shares during the period. Acrospire Investment Management LLC raised its holdings in OMNOVA Solutions by 2.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 13,632 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 288 shares during the period. Karp Capital Management Corp acquired a new stake in OMNOVA Solutions during the 1st quarter worth approximately $158,000. Acadian Asset Management LLC acquired a new stake in OMNOVA Solutions during the 2nd quarter worth approximately $185,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in OMNOVA Solutions during the 2nd quarter worth approximately $190,000. Institutional investors and hedge funds own 88.01% of the company’s stock.
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OMNOVA Solutions (NYSE OMN) traded up 0.46% during midday trading on Monday, hitting $10.95. 142,865 shares of the stock were exchanged. OMNOVA Solutions has a one year low of $7.05 and a one year high of $11.55. The company has a 50 day moving average price of $9.81 and a 200 day moving average price of $9.33. The firm’s market capitalization is $491.29 million.
OMNOVA Solutions (NYSE:OMN) last issued its earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.07. The company had revenue of $200.90 million for the quarter, compared to analyst estimates of $203.12 million. OMNOVA Solutions had a negative net margin of 0.78% and a positive return on equity of 22.71%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. Equities analysts anticipate that OMNOVA Solutions will post $0.60 EPS for the current year.
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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