PolyOne (NYSE:POL) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of PolyOne (NYSE:POL) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “PolyOne Corporation is a premier provider of specialized polymer materials, services and solutions. PolyOne are dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. PolyOne, business is structured to provide operations with the specialized polymer materials, services and solutions need. PolyOne are a premier provider of specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. A leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. “

A number of other research firms have also recently issued reports on POL. Robert W. Baird upgraded PolyOne from a neutral rating to an outperform rating and upped their price objective for the stock from $30.00 to $36.00 in a report on Monday, July 22nd. Wellington Shields upgraded PolyOne from a hold rating to a gradually accumulate rating in a report on Tuesday, June 11th. SunTrust Banks upgraded PolyOne from a hold rating to a buy rating and set a $31.00 price objective for the company in a report on Friday, May 31st. Buckingham Research cut their price objective on PolyOne from $40.00 to $36.00 and set a buy rating for the company in a report on Thursday, April 18th. Finally, Northcoast Research upgraded PolyOne from a neutral rating to a buy rating and set a $36.00 price objective for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $35.86.

Shares of NYSE POL opened at $31.04 on Wednesday. The firm has a market capitalization of $2.32 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.23 and a beta of 1.73. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 2.53. The stock’s 50-day simple moving average is $31.03 and its two-hundred day simple moving average is $29.82. PolyOne has a twelve month low of $24.47 and a twelve month high of $45.34.

PolyOne (NYSE:POL) last announced its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. PolyOne had a return on equity of 33.07% and a net margin of 4.03%. The business had revenue of $903.80 million for the quarter, compared to analyst estimates of $933.34 million. During the same period in the prior year, the company earned $0.71 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that PolyOne will post 2.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, September 12th. PolyOne’s payout ratio is currently 32.10%.

Several institutional investors and hedge funds have recently bought and sold shares of POL. Parallel Advisors LLC boosted its holdings in PolyOne by 220.7% during the 2nd quarter. Parallel Advisors LLC now owns 789 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 543 shares during the period. Investors Research Corp purchased a new stake in PolyOne during the 2nd quarter valued at about $25,000. Doyle Wealth Management purchased a new stake in PolyOne during the 2nd quarter valued at about $68,000. Crossmark Global Holdings Inc. purchased a new stake in PolyOne during the 2nd quarter valued at about $203,000. Finally, HM Capital Management LLC purchased a new stake in PolyOne during the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

PolyOne Company Profile

PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.

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