Omnova Solutions Inc. (NYSE:OMN) has received a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Brokers have set a 12 month consensus price target of $10.75 for the company and are predicting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given Omnova Solutions an industry rank of 58 out of 265 based on the ratings given to its competitors.
Several analysts recently weighed in on OMN shares. Jefferies Group reaffirmed a “buy” rating on shares of Omnova Solutions in a report on Wednesday, July 6th. TheStreet raised shares of Omnova Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Zacks Investment Research cut shares of Omnova Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th.
Omnova Solutions (NYSE:OMN) opened at 8.44 on Monday. The company’s market capitalization is $380.86 million. Omnova Solutions has a 52-week low of $4.37 and a 52-week high of $10.42. The firm has a 50-day moving average of $9.44 and a 200 day moving average of $7.80.
Omnova Solutions (NYSE:OMN) last issued its earnings results on Thursday, September 22nd. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm earned $195.60 million during the quarter. Omnova Solutions had a negative net margin of 1.05% and a positive return on equity of 18.39%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. Equities analysts predict that Omnova Solutions will post $0.50 earnings per share for the current fiscal year.
In related news, Director James A. Mitarotonda acquired 38,313 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were bought at an average price of $8.11 per share, with a total value of $310,718.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas E. Wenger sold 8,671 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $9.73, for a total transaction of $84,368.83. Following the sale, the senior vice president now directly owns 168,408 shares in the company, valued at approximately $1,638,609.84. The disclosure for this sale can be found here. Company insiders own 6.76% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Omnova Solutions by 2,157.4% in the first quarter. JPMorgan Chase & Co. now owns 3,031,851 shares of the company’s stock worth $16,857,000 after buying an additional 2,897,541 shares during the last quarter. Menta Capital LLC raised its position in shares of Omnova Solutions by 25.2% in the first quarter. Menta Capital LLC now owns 89,249 shares of the company’s stock worth $496,000 after buying an additional 17,936 shares during the period. Spark Investment Management LLC raised its position in shares of Omnova Solutions by 48.1% in the first quarter. Spark Investment Management LLC now owns 255,700 shares of the company’s stock worth $1,421,000 after buying an additional 83,000 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Omnova Solutions by 534.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,856 shares of the company’s stock worth $705,000 after buying an additional 106,867 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Omnova Solutions by 3.2% in the first quarter. Geode Capital Management LLC now owns 279,690 shares of the company’s stock worth $1,555,000 after buying an additional 8,676 shares during the period. 85.19% of the stock is currently owned by institutional investors.
About Omnova Solutions
OMNOVA Solutions Inc (OMNOVA) is a provider of emulsion polymers, specialty chemicals and engineered surfaces for commercial, industrial and residential end uses. The Company operates in two segments: Performance Chemicals and Engineered Surfaces. OMNOVA Performance Chemicals segment produces a range of emulsion polymers and specialty chemicals based primarily on styrene butadiene (SB), styrene butadiene acrylonitrile (SBA), styrene butadiene vinyl pyridine, nitrile butadiene (NBR), polyvinyl acetate, acrylic, styrene acrylic, vinyl acrylic, glyoxal, fluorochemical and bio-based chemistries.
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