Omnova Solutions (NYSE:OMN) Receives Lower Rating From Jefferies. What’s The Reasoning Behind This Move?

May 16, 2018 - By Adrian Erickson

OMNOVA Solutions Inc. (NYSE:OMN) Logo

Investors sentiment decreased to 1.04 in 2017 Q4. Its down 0.07, from 1.11 in 2017Q3. It dived, as 5 investors sold OMNOVA Solutions Inc. shares while 45 reduced holdings. 17 funds opened positions while 35 raised stakes. 38.67 million shares or 0.16% more from 38.61 million shares in 2017Q3 were reported.

Metropolitan Life Insurance Company Ny accumulated 13,242 shares. Public Employees Retirement Of Ohio invested in 106,886 shares. Credit Suisse Ag owns 43,079 shares. Wellington Mgmt Grp Llp reported 0.01% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). First Quadrant Lp Ca invested in 0% or 25,030 shares. Moreover, Menta Llc has 0.48% invested in OMNOVA Solutions Inc. (NYSE:OMN) for 247,679 shares. Macquarie Grp Limited invested 0% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). Weber Alan W reported 1.96% in OMNOVA Solutions Inc. (NYSE:OMN). Amer International Gp Inc has invested 0% in OMNOVA Solutions Inc. (NYSE:OMN). Indexiq Advsrs Limited Liability Corp accumulated 142,305 shares. Connor Clark And Lunn Management Limited holds 0.01% or 136,000 shares in its portfolio. Envestnet Asset Mngmt owns 0% invested in OMNOVA Solutions Inc. (NYSE:OMN) for 9,624 shares. State Board Of Administration Of Florida Retirement Systems reported 47,890 shares stake. Pdt Partners Ltd Llc reported 23,700 shares. Teton has 268,000 shares.

Omnova Solutions (NYSE:OMN) Receives a Downgrade

The Equity Rating of Omnova Solutions (NYSE:OMN) rating was decreased by analysts at Jefferies from the previous Buy rating to a Hold rating in a research note shared with investors and clients on Wednesday, 16 May.

The stock decreased 8.22% or $0.9 during the last trading session, reaching $10.05. About 375,222 shares traded or 155.81% up from the average. OMNOVA Solutions Inc. (NYSE:OMN) has risen 16.76% since May 17, 2017 and is uptrending. It has outperformed by 5.21% the S&P500.

Analysts await OMNOVA Solutions Inc. (NYSE:OMN) to report earnings on June, 27. They expect $0.19 EPS, up 18.75 % or $0.03 from last year’s $0.16 per share. OMN’s profit will be $8.51M for 13.22 P/E if the $0.19 EPS becomes a reality. After $0.09 actual EPS reported by OMNOVA Solutions Inc. for the previous quarter, Wall Street now forecasts 111.11 % EPS growth.

OMNOVA Solutions Inc. provides emulsion polymers, specialty chemicals, and engineered surfaces for various commercial, industrial, and residential end uses in the United States, Europe, and Asia. The company has market cap of $450.26 million. The firm operates in two divisions, Performance Chemicals and Engineered Surfaces. It currently has negative earnings. The Performance Chemicals segment produces a range of latices, hollow plastic pigments, resins, binders, adhesives, specialty rubbers, antioxidants, and elastomeric modifiers, which are used in gas and oil drilling and production, specialty coatings, paper and packaging, carpet, nonwovens, construction, adhesives, tape, tires, floor care, textiles, graphic arts, polymer stabilization, industrial rubbers and thermoplastics, synthetic gloves, and various other specialty applications.

Another recent and important OMNOVA Solutions Inc. (NYSE:OMN) news was published by Streetinsider.com which published an article titled: “Jefferies Downgrades OMNOVA Solutions (OMN) to Hold” on May 16, 2018.

OMNOVA Solutions Inc. (NYSE:OMN) Institutional Positions Chart

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