Omnova Solutions Inc. (OMN) Trading 2.7% Higher
Shares of 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. The stock had previously closed at $9.27.
A number of analysts have commented on the company. TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Jefferies Group reissued a “buy” rating on shares of Omnova Solutions in a report on Wednesday, July 6th. Finally, Zacks Investment Research raised Omnova Solutions from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Friday, July 1st.
The company has a 50 day moving average price of $9.16 and a 200 day moving average price of $6.95. The company’s market capitalization is $431.24 million.
Omnova Solutions (NYSE:OMN) last posted its earnings results on Wednesday, June 29th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm had revenue of $202 million for the quarter, compared to analysts’ expectations of $205.40 million. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities research analysts predict that Omnova Solutions Inc. will post $0.57 earnings per share for the current fiscal year.
In other news, SVP Douglas E. Wenger sold 8,671 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $9.73, for a total transaction 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 is accessible through the SEC website.
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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