Omnova Solutions Inc. (OMN) Sets New 1-Year High at $10.05
Shares of Omnova Solutions Inc. (NYSE:OMN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.05 and last traded at $9.98, with a volume of 171,044 shares. The stock had previously closed at $9.60.
Several analysts have recently issued reports on OMN shares. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a report on Wednesday, July 6th. 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. Finally, TheStreet raised Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd.
The stock has a 50 day moving average of $9.46 and a 200 day moving average of $7.20. The stock’s market cap is $459.60 million.
Omnova Solutions (NYSE:OMN) last posted its earnings results on Wednesday, June 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. During the same period last year, the business earned $0.11 earnings per share. The company had revenue of $202 million for 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 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 stock was sold at an average price of $9.73, for a total transaction of $84,368.83. Following the sale, the senior vice president now directly owns 168,408 shares of the company’s stock, valued at $1,638,609.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
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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