Omnova Solutions Inc. (OMN) Trading 2.7% Higher
Omnova Solutions Inc. (NYSE:OMN) traded up 2.7% during trading on Monday . The company traded as high as $9.58 and last traded at $9.52, with a volume of 129,537 shares traded. The stock had previously closed at $9.27.
A number of equities research analysts recently commented on the company. Jefferies Group restated a “buy” rating on shares of Omnova Solutions in a research report on Wednesday, July 6th. TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Zacks Investment Research raised Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Friday, July 1st.
The stock has a 50-day moving average of $9.23 and a 200-day moving average of $7.04. The stock’s market cap is $422.69 million.
Omnova Solutions (NYSE:OMN) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business earned $202 million during the quarter, compared to analyst estimates of $205.40 million. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, analysts expect that Omnova Solutions Inc. will post $0.57 earnings per share for the current year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of Omnova Solutions stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $9.73, for a total value of $84,368.83. Following the completion of the sale, the senior vice president now directly owns 168,408 shares in the company, valued at $1,638,609.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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