A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered PolyOne Corp. from a hold rating to a sell rating in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. lowered PolyOne Corp. from a buy rating to a neutral rating and lowered their price target for the company from $42.00 to $38.00 in a research report on Wednesday, July 27th. Finally, Wellington Shields raised PolyOne Corp. from a hold rating to a gradually accumulate rating in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $37.33.
Shares of PolyOne Corp. (NYSE:POL) traded down 1.74% during midday trading on Wednesday, hitting $31.09. 66,141 shares of the stock were exchanged. PolyOne Corp. has a 1-year low of $22.35 and a 1-year high of $38.41. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 19.62 and a beta of 1.41. The stock’s 50-day moving average price is $33.14 and its 200-day moving average price is $34.68.
PolyOne Corp. (NYSE:POL) last issued its earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The company had revenue of $861.50 million for the quarter, compared to analyst estimates of $879.38 million. During the same period in the prior year, the firm earned $0.57 earnings per share. PolyOne Corp.’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts forecast that PolyOne Corp. will post $2.17 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of PolyOne Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,830 shares of the company’s stock valued at $100,000 after buying an additional 1,234 shares in the last quarter. Creative Planning raised its stake in shares of PolyOne Corp. by 57.8% in the third quarter. Creative Planning now owns 2,961 shares of the company’s stock valued at $100,000 after buying an additional 1,085 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of PolyOne Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 5,076 shares of the company’s stock valued at $179,000 after buying an additional 2,119 shares in the last quarter. Capstone Asset Management Co. acquired a new stake in shares of PolyOne Corp. during the second quarter valued at about $202,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of PolyOne Corp. during the second quarter valued at about $205,000. 92.51% of the stock is owned by hedge funds and other institutional investors.
About PolyOne Corp.
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