Analysts Set OMNOVA Solutions Inc. (OMN) Price Target at $12.00
OMNOVA Solutions Inc. (NYSE:OMN) has received an average recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $12.00.
Several equities research analysts have recently commented on OMN shares. Zacks Investment Research upgraded OMNOVA Solutions from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, July 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $12.00 target price on shares of OMNOVA Solutions in a research report on Friday, June 16th. Sidoti initiated coverage on OMNOVA Solutions in a research report on Tuesday, June 13th. They issued a “buy” rating and a $12.00 price objective on the stock. ValuEngine raised OMNOVA Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, BidaskClub cut OMNOVA Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.
Shares of OMNOVA Solutions (NYSE:OMN) traded up 1.11% during mid-day trading on Thursday, hitting $9.10. The stock had a trading volume of 114,896 shares. The firm’s market capitalization is $408.69 million. The stock’s 50-day moving average is $8.95 and its 200-day moving average is $9.13. OMNOVA Solutions has a 1-year low of $7.05 and a 1-year high of $10.27.
OMNOVA Solutions (NYSE:OMN) last issued its earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. The business had revenue of $221.30 million during the quarter, compared to the consensus estimate of $204.40 million. OMNOVA Solutions had a positive return on equity of 18.52% and a negative net margin of 1.19%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Equities analysts expect that OMNOVA Solutions will post $0.59 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its holdings in OMNOVA Solutions by 4.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,146 shares of the specialty chemicals company’s stock valued at $100,000 after acquiring an additional 472 shares during the period. Acrospire Investment Management LLC lifted its holdings in OMNOVA Solutions by 2.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 13,632 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 288 shares during the period. Karp Capital Management Corp purchased a new stake in OMNOVA Solutions in the 1st quarter worth approximately $158,000. Acadian Asset Management LLC purchased a new stake in OMNOVA Solutions in the 2nd quarter worth approximately $185,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in OMNOVA Solutions in the 2nd quarter worth approximately $190,000. Institutional investors own 88.01% of the company’s stock.
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OMNOVA Solutions Company Profile
OMNOVA Solutions Inc is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company’s segments include Performance Chemicals and Engineered Surfaces. The Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based on styrene butadiene, styrene butadiene acrylonitrile, styrene butadiene vinyl pyridine, nitrile butadiene, polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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