OMNOVA Solutions (NYSE:OMN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of OMNOVA Solutions (NYSE:OMN) from a hold rating to a sell rating in a research report report published 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 equities analysts have also recently weighed in on the company. Deutsche Bank reaffirmed a hold rating and set a GBX 350 ($4.57) target price on shares of in a research note on Friday, July 5th. ValuEngine upgraded Vistra Energy from a hold rating to a buy rating in a report on Wednesday, July 3rd. Finally, Sidoti lowered OMNOVA Solutions from a buy rating to a neutral rating and set a $10.00 price target for the company. in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has an average rating of Hold and an average price target of $9.96.

NYSE:OMN opened at $9.97 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.26 and a debt-to-equity ratio of 5.36. OMNOVA Solutions has a fifty-two week low of $5.48 and a fifty-two week high of $10.70. The firm’s 50-day simple moving average is $6.68. The stock has a market cap of $448.45 million, a PE ratio of 24.39, a PEG ratio of 1.90 and a beta of 2.19.

OMNOVA Solutions (NYSE:OMN) last released its earnings results on Wednesday, July 3rd. The specialty chemicals company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.10). OMNOVA Solutions had a net margin of 0.79% and a return on equity of 33.50%. The business had revenue of $205.70 million for the quarter, compared to analysts’ expectations of $210.55 million. During the same period last year, the firm earned $0.20 EPS. The company’s revenue was down .3% compared to the same quarter last year. Sell-side analysts forecast that OMNOVA Solutions will post 0.52 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of OMNOVA Solutions by 48.8% during the 4th quarter. Rhumbline Advisers now owns 56,397 shares of the specialty chemicals company’s stock valued at $413,000 after buying an additional 18,484 shares during the last quarter. United Services Automobile Association lifted its holdings in OMNOVA Solutions by 7.4% in the 4th quarter. United Services Automobile Association now owns 188,038 shares of the specialty chemicals company’s stock worth $1,378,000 after purchasing an additional 12,900 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in OMNOVA Solutions in the 1st quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in OMNOVA Solutions by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,275 shares of the specialty chemicals company’s stock worth $1,072,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Stone Ridge Asset Management LLC lifted its holdings in OMNOVA Solutions by 229.2% in the 4th quarter. Stone Ridge Asset Management LLC now owns 46,801 shares of the specialty chemicals company’s stock worth $343,000 after purchasing an additional 32,583 shares during the last quarter. Institutional investors and hedge funds 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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