OMNOVA Solutions Inc. (OMN) Receives Average Recommendation of “Hold” from Analysts

OMNOVA Solutions Inc. (NYSE:OMN) has been given an average recommendation of “Hold” by the six research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.00.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. BidaskClub upgraded shares of OMNOVA Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. KeyCorp reiterated a “hold” rating on shares of OMNOVA Solutions in a report on Thursday, August 24th. ValuEngine upgraded shares of OMNOVA Solutions from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Jefferies Group reiterated a “buy” rating and set a $12.00 target price on shares of OMNOVA Solutions in a report on Thursday, October 12th.

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of OMNOVA Solutions by 5.3% in the 2nd quarter. Royal Bank of Canada now owns 4,817,031 shares of the specialty chemicals company’s stock valued at $46,966,000 after buying an additional 243,379 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of OMNOVA Solutions by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,209,084 shares of the specialty chemicals company’s stock valued at $21,538,000 after buying an additional 14,945 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of OMNOVA Solutions by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,814,048 shares of the specialty chemicals company’s stock valued at $17,686,000 after buying an additional 74,636 shares in the last quarter. State Street Corp boosted its holdings in shares of OMNOVA Solutions by 2.7% in the 2nd quarter. State Street Corp now owns 848,085 shares of the specialty chemicals company’s stock valued at $8,275,000 after buying an additional 22,333 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of OMNOVA Solutions by 8.2% in the 2nd quarter. Northern Trust Corp now owns 705,492 shares of the specialty chemicals company’s stock valued at $6,878,000 after buying an additional 53,607 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

OMNOVA Solutions (NYSE OMN) opened at $10.45 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 2.38 and a debt-to-equity ratio of 2.78. The company has a market cap of $480.55, a PE ratio of 17.83, a PEG ratio of 1.55 and a beta of 2.18. OMNOVA Solutions has a 1-year low of $8.10 and a 1-year high of $11.60.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings results on Thursday, September 28th. The specialty chemicals company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $203.12 million. OMNOVA Solutions had a negative net margin of 0.78% and a positive return on equity of 22.71%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. research analysts predict that OMNOVA Solutions will post 0.62 EPS for the current year.

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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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