OMNOVA Solutions (OMN) Rating Lowered to Sell at Zacks Investment Research

OMNOVA Solutions (NYSE:OMN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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. “

Separately, TheStreet raised shares of OMNOVA Solutions from a “d+” rating to a “c+” rating in a report on Thursday, February 7th.

Shares of NYSE:OMN opened at $5.85 on Wednesday. The company has a debt-to-equity ratio of 5.56, a current ratio of 1.86 and a quick ratio of 1.17. The stock has a market capitalization of $269.52 million, a P/E ratio of 9.29, a PEG ratio of 0.95 and a beta of 2.13. OMNOVA Solutions has a 52 week low of $5.77 and a 52 week high of $10.80.

OMNOVA Solutions (NYSE:OMN) last announced its quarterly earnings data on Wednesday, March 27th. The specialty chemicals company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.12). The firm had revenue of $168.90 million during the quarter, compared to analyst estimates of $185.00 million. OMNOVA Solutions had a net margin of 1.16% and a return on equity of 41.90%. OMNOVA Solutions’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, sell-side analysts anticipate that OMNOVA Solutions will post 0.63 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in OMNOVA Solutions by 2.1% in the first quarter. Wellington Management Group LLP now owns 4,391,677 shares of the specialty chemicals company’s stock valued at $30,830,000 after buying an additional 90,273 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in OMNOVA Solutions by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,265,161 shares of the specialty chemicals company’s stock valued at $15,902,000 after buying an additional 6,839 shares in the last quarter. Vanguard Group Inc. increased its holdings in OMNOVA Solutions by 0.3% in the third quarter. Vanguard Group Inc. now owns 2,096,657 shares of the specialty chemicals company’s stock valued at $20,653,000 after buying an additional 6,521 shares in the last quarter. Vanguard Group Inc increased its holdings in OMNOVA Solutions by 0.3% in the third quarter. Vanguard Group Inc now owns 2,096,657 shares of the specialty chemicals company’s stock valued at $20,653,000 after buying an additional 6,521 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in OMNOVA Solutions by 13.2% in the first quarter. Renaissance Technologies LLC now owns 1,975,421 shares of the specialty chemicals company’s stock valued at $13,867,000 after buying an additional 230,400 shares in the last quarter. 91.86% of the stock is owned by institutional investors.

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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