Equities researchers at CIBC started coverage on shares of PolyOne Corporation (NYSE:POL) in a report issued on Thursday. The brokerage set an “outperform” rating and a $43.00 price target on the specialty chemicals company’s stock. CIBC’s price objective would suggest a potential upside of 17.17% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Oppenheimer Holdings, Inc. began coverage on shares of PolyOne Corporation in a report on Wednesday. They issued an “outperform” rating and a $43.00 target price for the company. BidaskClub upgraded shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday. Finally, Zacks Investment Research downgraded shares of PolyOne Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.80.
PolyOne Corporation (NYSE POL) traded down 0.25% during midday trading on Thursday, hitting $36.61. 32,126 shares of the stock traded hands. The firm’s 50-day moving average is $37.38 and its 200-day moving average is $36.17. The company’s market cap is $2.99 billion. PolyOne Corporation has a 52-week low of $28.77 and a 52-week high of $40.88.
PolyOne Corporation (NYSE:POL) last announced its earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business had revenue of $814.10 million during the quarter, compared to the consensus estimate of $812.52 million. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Analysts predict that PolyOne Corporation will post $2.21 EPS for the current year.
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Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its position in PolyOne Corporation by 85.7% in the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 1,200 shares during the period. Advisor Group Inc. increased its position in PolyOne Corporation by 2.6% in the second quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock valued at $126,000 after buying an additional 84 shares during the period. Quantbot Technologies LP bought a new position in PolyOne Corporation during the second quarter valued at about $143,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PolyOne Corporation by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 1,370 shares during the period. Finally, Victory Capital Management Inc. increased its position in PolyOne Corporation by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock valued at $144,000 after buying an additional 1,336 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.
PolyOne Corporation Company Profile
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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