ValuEngine Upgrades OMNOVA Solutions (OMN) to “Buy”

OMNOVA Solutions (NYSE:OMN) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, February 7th.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered OMNOVA Solutions from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Jefferies Group reissued a “buy” rating and set a $12.00 price objective on shares of OMNOVA Solutions in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.67.

Shares of OMNOVA Solutions (OMN) traded up $0.05 during midday trading on Wednesday, hitting $10.20. 8,643 shares of the stock were exchanged, compared to its average volume of 126,601. OMNOVA Solutions has a twelve month low of $8.10 and a twelve month high of $11.60. The firm has a market cap of $450.34, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.51 and a beta of 2.10. The company has a quick ratio of 1.71, a current ratio of 2.37 and a debt-to-equity ratio of 9.16.

OMNOVA Solutions (NYSE:OMN) last announced its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The business had revenue of $186.30 million for the quarter, compared to analysts’ expectations of $192.15 million. OMNOVA Solutions had a negative net margin of 11.20% and a positive return on equity of 25.30%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. equities analysts forecast that OMNOVA Solutions will post 0.67 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in OMN. Alliancebernstein L.P. boosted its stake in shares of OMNOVA Solutions by 49.1% in the 2nd quarter. Alliancebernstein L.P. now owns 27,930 shares of the specialty chemicals company’s stock valued at $272,000 after buying an additional 9,200 shares during the period. Teachers Advisors LLC lifted its stake in OMNOVA Solutions by 3.7% during the second quarter. Teachers Advisors LLC now owns 104,253 shares of the specialty chemicals company’s stock worth $1,016,000 after purchasing an additional 3,763 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in OMNOVA Solutions by 2.4% during the second quarter. TIAA CREF Investment Management LLC now owns 144,090 shares of the specialty chemicals company’s stock worth $1,405,000 after purchasing an additional 3,334 shares during the last quarter. Nationwide Fund Advisors lifted its stake in OMNOVA Solutions by 28.9% during the second quarter. Nationwide Fund Advisors now owns 149,785 shares of the specialty chemicals company’s stock worth $1,460,000 after purchasing an additional 33,592 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in OMNOVA Solutions by 3.6% during the second quarter. Citigroup Inc. now owns 27,344 shares of the specialty chemicals company’s stock worth $267,000 after purchasing an additional 954 shares during the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.

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About OMNOVA Solutions

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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