Zacks Investment Research Lowers OMNOVA Solutions (NYSE:OMN) to Sell

Zacks Investment Research downgraded shares of OMNOVA Solutions (NYSE:OMN) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Omnova Solutions Inc. develops, manufactures and markets emulsion polymers, specialty chemicals and decorative and building products for a variety of industrial, commercial and consumer markets. The Performance Chemicals unit’s broad range of emulsion polymers and specialty chemicals are used as coatings, binders, adhesives, and additives for paper, carpet, textile and various other industries. “

Several other brokerages have also recently issued reports on OMN. Deutsche Bank reaffirmed a hold rating and issued a GBX 350 ($4.57) price objective on shares of in a research note on Friday, July 5th. Sidoti cut shares of OMNOVA Solutions from a buy rating to a neutral rating and set a $10.00 price objective on the stock. in a research note on Wednesday, July 3rd. Finally, ValuEngine raised shares of Vistra Energy from a hold rating to a buy rating in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $9.96.

Shares of OMN opened at $9.97 on Wednesday. The stock has a 50 day simple moving average of $6.68. The firm has a market cap of $447.10 million, a PE ratio of 24.32, a P/E/G ratio of 1.90 and a beta of 2.19. The company has a debt-to-equity ratio of 5.36, a current ratio of 1.89 and a quick ratio of 1.26. OMNOVA Solutions has a 12-month low of $5.48 and a 12-month high of $10.70.

OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, July 3rd. The specialty chemicals company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.10). The business had revenue of $205.70 million during the quarter, compared to analyst estimates of $210.55 million. OMNOVA Solutions had a return on equity of 33.50% and a net margin of 0.79%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. On average, equities research analysts forecast that OMNOVA Solutions will post 0.52 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in OMN. New York State Teachers Retirement System acquired a new position in shares of OMNOVA Solutions in the first quarter worth about $27,000. Legal & General Group Plc boosted its holdings in shares of OMNOVA Solutions by 40.9% in the fourth quarter. Legal & General Group Plc now owns 8,760 shares of the specialty chemicals company’s stock worth $64,000 after buying an additional 2,541 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of OMNOVA Solutions by 1,304.3% in the first quarter. BNP Paribas Arbitrage SA now owns 9,114 shares of the specialty chemicals company’s stock worth $64,000 after buying an additional 8,465 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in shares of OMNOVA Solutions by 365.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,907 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 11,703 shares during the period. Finally, Mackay Shields LLC acquired a new position in shares of OMNOVA Solutions in the fourth quarter worth about $176,000. Institutional investors own 91.86% of the company’s stock.

About OMNOVA Solutions

OMNOVA Solutions Inc provides specialty solutions and performance materials for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. Its Specialty Solutions segment designs, develops, produces, and markets specialty products for use in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for oil and gas drilling, cementing, and fracking; elastomeric modification of plastic casings and hoses used in household, industrial products, and automobiles; tapes and adhesives; sports surfaces; textile finishes; commercial building refurbishment; new construction; residential cabinets; flooring; ceiling tiles; furnishings; manufactured housing; health care patient; common area furniture; and various industrial films applications.

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