OMNOVA Solutions Inc. (OMN) Earns Hold Rating from KeyCorp
Several other brokerages have also commented on OMN. ValuEngine upgraded shares of OMNOVA Solutions from a hold rating to a buy rating in a research report on Thursday. Zacks Investment Research downgraded shares of OMNOVA Solutions from a buy rating to a hold rating in a report on Wednesday, September 6th. BidaskClub cut shares of OMNOVA Solutions from a hold rating to a sell rating in a research note on Tuesday, August 22nd. Jefferies Group LLC reiterated 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 assumed coverage on shares of OMNOVA Solutions in a report on Tuesday, June 13th. They set a buy rating and a $12.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $11.67.
OMNOVA Solutions (NYSE:OMN) opened at 10.95 on Friday. OMNOVA Solutions has a 52-week low of $7.05 and a 52-week high of $11.15. The company’s 50 day moving average is $8.95 and its 200 day moving average is $9.13. The firm’s market cap is $486.18 million.
OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Thursday, September 28th. The specialty chemicals company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. OMNOVA Solutions had a positive return on equity of 23.31% and a negative net margin of 0.78%. The firm had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $203.12 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. OMNOVA Solutions’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that OMNOVA Solutions will post $0.58 EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in OMNOVA Solutions by 4.7% during the second quarter. The Manufacturers Life Insurance Company now owns 36,089 shares of the specialty chemicals company’s stock worth $352,000 after purchasing an additional 1,614 shares in the last quarter. State Street Corp grew its holdings in 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 purchasing an additional 22,333 shares during the last quarter. Royal Bank of Canada grew its holdings in 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 purchasing an additional 243,379 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 43,436 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in 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 purchasing an additional 2,917 shares during the last quarter. 88.01% 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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