OMNOVA Solutions (OMN) Upgraded by Zacks Investment Research to “Hold”

OMNOVA Solutions (NYSE:OMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Omnova Solutions Inc. develops, manufactures and markets emulsion polymers, specialty chemicals and decorative and building products for a variety of industrial, commercial and consumer markets. The Performance Chemicals unit’s broad range of emulsion polymers and specialty chemicals are used as coatings, binders, adhesives, and additives for paper, carpet, textile and various other industries. “

Other equities research analysts have also issued reports about the company. Jefferies Group reissued a “buy” rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research note on Thursday, October 12th. ValuEngine raised OMNOVA Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. 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. OMNOVA Solutions presently has an average rating of “Hold” and an average target price of $11.67.

Shares of OMNOVA Solutions (NYSE OMN) opened at $10.10 on Thursday. The firm has a market capitalization of $452.58, a price-to-earnings ratio of -5.10, a PEG ratio of 1.51 and a beta of 2.10. The company has a debt-to-equity ratio of 9.16, a quick ratio of 1.71 and a current ratio of 2.37. OMNOVA Solutions has a one year low of $8.10 and a one year high of $11.60.

OMNOVA Solutions (NYSE:OMN) last released its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $186.30 million for the quarter, compared to the consensus estimate of $192.15 million. OMNOVA Solutions had a positive return on equity of 25.30% and a negative net margin of 11.20%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. research analysts anticipate that OMNOVA Solutions will post 0.67 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in shares of OMNOVA Solutions by 3.6% during the 2nd quarter. Citigroup Inc. now owns 27,344 shares of the specialty chemicals company’s stock worth $267,000 after acquiring an additional 954 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 purchasing an additional 1,614 shares in the last quarter. Voya Investment Management LLC lifted its holdings 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 purchasing an additional 2,917 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of OMNOVA Solutions by 2.4% in the second quarter. TIAA CREF Investment Management LLC now owns 144,090 shares of the specialty chemicals company’s stock valued at $1,405,000 after purchasing an additional 3,334 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of OMNOVA Solutions by 3.7% in the second quarter. Teachers Advisors LLC now owns 104,253 shares of the specialty chemicals company’s stock valued at $1,016,000 after purchasing an additional 3,763 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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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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