Jefferies Group Downgrades OMNOVA Solutions (OMN) to Hold

Jefferies Group lowered shares of OMNOVA Solutions (NYSE:OMN) from a buy rating to a hold rating in a research note released on Wednesday, Marketbeat Ratings reports.

OMN has been the topic of a number of other research reports. Zacks Investment Research raised OMNOVA Solutions from a sell rating to a hold rating in a research report on Wednesday, February 14th. ValuEngine raised OMNOVA Solutions from a hold rating to a buy rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $11.67.

OMN stock opened at $10.25 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.31 and a debt-to-equity ratio of 6.66. The stock has a market capitalization of $459.30 million, a price-to-earnings ratio of 17.08, a P/E/G ratio of 1.54 and a beta of 2.10. OMNOVA Solutions has a 1 year low of $8.10 and a 1 year high of $11.90.

OMNOVA Solutions (NYSE:OMN) last posted its quarterly earnings results on Wednesday, March 28th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $178.70 million for the quarter, compared to analyst estimates of $174.65 million. OMNOVA Solutions had a positive return on equity of 32.70% and a negative net margin of 10.67%. OMNOVA Solutions’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. equities analysts forecast that OMNOVA Solutions will post 0.67 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans increased its holdings in shares of OMNOVA Solutions by 16.4% in the 4th quarter. Thrivent Financial For Lutherans now owns 636,981 shares of the specialty chemicals company’s stock valued at $6,370,000 after acquiring an additional 89,864 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of OMNOVA Solutions by 19.1% in the 4th quarter. Two Sigma Advisers LP now owns 158,490 shares of the specialty chemicals company’s stock valued at $1,585,000 after acquiring an additional 25,463 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of OMNOVA Solutions by 54.8% in the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the specialty chemicals company’s stock valued at $890,000 after acquiring an additional 28,768 shares during the last quarter. Weber Alan W increased its holdings in shares of OMNOVA Solutions by 1.3% in the 4th quarter. Weber Alan W now owns 447,500 shares of the specialty chemicals company’s stock valued at $4,475,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of OMNOVA Solutions by 69.6% in the 4th quarter. Millennium Management LLC now owns 747,896 shares of the specialty chemicals company’s stock valued at $7,479,000 after acquiring an additional 306,890 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

OMNOVA Solutions Company Profile

OMNOVA Solutions Inc provides emulsion polymers, specialty chemicals, and engineered surfaces for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. The company operates in two segments, Specialty Solutions and Performance Materials. The Specialty Solutions segment designs, develops, produces, and markets specialty polymers which are used in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.

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