Just How Negative is Jefferies Following Their Downgrade of Omnova Solutions (NYSE:OMN)?

May 16, 2018 - By Henry Gaston

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 is negative, 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.

Blackrock accumulated 0% or 3.19 million shares. 1.68M are held by Renaissance Ltd Llc. D E Shaw Communications reported 190,861 shares. Robotti Robert holds 2.69% or 1.03 million shares. 20,632 were accumulated by Citadel Advsrs Ltd Liability Corp. Campbell & Adviser Limited Liability Corp has invested 0.21% in OMNOVA Solutions Inc. (NYSE:OMN). Macquarie Grp holds 35,136 shares or 0% of its portfolio. Legal And General Gp Public Ltd Company, United Kingdom-based fund reported 10,990 shares. California-based Menta Capital Limited Liability Com has invested 0.48% in OMNOVA Solutions Inc. (NYSE:OMN). Gabelli Funds Limited Liability Corporation reported 910,000 shares. Jpmorgan Chase And Company has invested 0% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). State Board Of Administration Of Florida Retirement Systems holds 0% or 47,890 shares in its portfolio. Aperio Grp Ltd Company has 13,160 shares. Tower Research Limited Company (Trc) holds 5,355 shares. Synovus owns 149,438 shares.

Omnova Solutions (NYSE:OMN) Receives a Downgrade

In a note issued to clients and investors on Wednesday, 16 May, Jefferies announced that they will be downgrading shares of Omnova Solutions (NYSE:OMN) from a “Buy” to a “Hold” rating.

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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