Zacks Investment Research lowered shares of PolyOne (NYSE:POL) from a buy rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “PolyOne Corporation is a premier provider of specialized polymer materials, services and solutions. PolyOne are dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. PolyOne, business is structured to provide operations with the specialized polymer materials, services and solutions need. PolyOne are a premier provider of specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. A leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. “
Several other research firms have also recently commented on POL. ValuEngine cut shares of PolyOne from a hold rating to a sell rating in a report on Tuesday, October 23rd. TheStreet cut shares of PolyOne from a b- rating to a c+ rating in a report on Wednesday, December 12th. Stifel Nicolaus initiated coverage on shares of PolyOne in a report on Monday, December 10th. They set a hold rating for the company. KeyCorp reiterated an overweight rating and set a $43.00 price target (down previously from $50.00) on shares of PolyOne in a report on Thursday, October 25th. Finally, Wellington Shields cut shares of PolyOne from a gradually accumulate rating to a hold rating in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. PolyOne has a consensus rating of Hold and a consensus target price of $39.50.
POL traded up $0.64 during trading hours on Tuesday, hitting $31.65. 33,791 shares of the company’s stock were exchanged, compared to its average volume of 487,452. The company has a quick ratio of 1.27, a current ratio of 1.86 and a debt-to-equity ratio of 2.14. PolyOne has a 12-month low of $26.16 and a 12-month high of $47.48. The company has a market cap of $2.47 billion, a P/E ratio of 14.16, a PEG ratio of 1.17 and a beta of 1.67.
PolyOne (NYSE:POL) last posted its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. PolyOne had a net margin of 5.33% and a return on equity of 32.72%. The company had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $887.93 million. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Research analysts forecast that PolyOne will post 2.41 earnings per share for the current year.
In related news, Director Robert E. Abernathy bought 10,000 shares of the stock in a transaction dated Thursday, October 25th. The stock was acquired at an average price of $30.64 per share, for a total transaction of $306,400.00. Following the acquisition, the director now owns 11,593 shares in the company, valued at approximately $355,209.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP J Scott Horn purchased 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average price of $31.69 per share, with a total value of $190,140.00. Following the purchase, the senior vice president now owns 10,271 shares in the company, valued at $325,487.99. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 17,050 shares of company stock valued at $529,174. Company insiders own 1.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its stake in PolyOne by 328.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,996 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 1,530 shares during the period. First Hawaiian Bank acquired a new stake in PolyOne during the 3rd quarter worth $109,000. Advisors Asset Management Inc. boosted its stake in PolyOne by 5,112.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 350,783 shares of the specialty chemicals company’s stock worth $205,000 after purchasing an additional 344,053 shares during the period. Tower Research Capital LLC TRC boosted its stake in PolyOne by 64.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,521 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 2,161 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in PolyOne during the 3rd quarter worth $249,000. Hedge funds and other institutional investors own 92.40% of the company’s stock.
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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