Omnova Solutions Inc. (OMN) Shares Up 2.9%
Shares of Omnova Solutions Inc. (NYSE:OMN) shot up 2.9% during trading on Tuesday . The company traded as high as $10.40 and last traded at $10.26, with a volume of 284,267 shares traded. The stock had previously closed at $9.97.
A number of research firms have recently commented on OMN. Zacks Investment Research cut shares of Omnova Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a research note on Wednesday, July 6th.
The firm’s 50-day moving average is $9.42 and its 200-day moving average is $7.17. The stock’s market cap is $459.60 million.
Omnova Solutions (NYSE:OMN) last released its earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. During the same quarter last year, the business posted $0.11 EPS. The firm earned $202 million during the quarter, compared to analyst estimates of $205.40 million. The firm’s revenue was down 8.3% on a year-over-year basis. Equities research analysts predict that Omnova Solutions Inc. will post $0.57 earnings per share for the current fiscal year.
In related news, SVP Douglas E. Wenger sold 8,671 shares of the firm’s stock in a transaction dated 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 owns 168,408 shares in the company, valued at $1,638,609.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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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