OMNOVA Solutions (OMN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of OMNOVA Solutions (NYSE:OMN) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

Separately, ValuEngine lowered OMNOVA Solutions from a buy rating to a hold rating in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. OMNOVA Solutions presently has an average rating of Hold and a consensus price target of $11.67.

Shares of OMNOVA Solutions (OMN) traded up $0.05 during trading on Wednesday, reaching $10.20. The company had a trading volume of 7,932 shares, compared to its average volume of 126,520. The stock has a market capitalization of $450.34, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.51 and a beta of 2.10. OMNOVA Solutions has a 52 week low of $8.10 and a 52 week high of $11.60. The company has a quick ratio of 1.71, a current ratio of 2.37 and a debt-to-equity ratio of 9.16.

OMNOVA Solutions (NYSE:OMN) last issued 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 business had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $192.15 million. OMNOVA Solutions had a positive return on equity of 25.30% and a negative net margin of 11.20%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. equities research analysts predict that OMNOVA Solutions will post 0.67 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMN. Alliancebernstein L.P. boosted its position in shares of OMNOVA Solutions by 49.1% during the second quarter. Alliancebernstein L.P. now owns 27,930 shares of the specialty chemicals company’s stock worth $272,000 after buying an additional 9,200 shares during the period. Teachers Advisors LLC boosted its position in shares of OMNOVA Solutions by 3.7% during the second quarter. Teachers Advisors LLC now owns 104,253 shares of the specialty chemicals company’s stock worth $1,016,000 after buying an additional 3,763 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of OMNOVA Solutions by 2.4% during the second quarter. TIAA CREF Investment Management LLC now owns 144,090 shares of the specialty chemicals company’s stock worth $1,405,000 after buying an additional 3,334 shares during the period. Nationwide Fund Advisors boosted its position in shares of OMNOVA Solutions by 28.9% during the second quarter. Nationwide Fund Advisors now owns 149,785 shares of the specialty chemicals company’s stock worth $1,460,000 after buying an additional 33,592 shares during the period. Finally, Citigroup Inc. boosted its position in shares of OMNOVA Solutions by 3.6% during the second quarter. Citigroup Inc. now owns 27,344 shares of the specialty chemicals company’s stock worth $267,000 after buying an additional 954 shares during the period. Institutional investors and hedge funds own 88.33% of the company’s stock.

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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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