Zacks Investment Research upgraded shares of PolyOne (NYSE:POL) from a hold rating to a buy rating in a report published on Tuesday morning. The firm currently has $33.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “PolyOne Corporation is a premier provider of specialized polymer materials, services and solutions. PolyOne are dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. PolyOne, business is structured to provide operations with the specialized polymer materials, services and solutions need. PolyOne are a premier provider of specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. A leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. “
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus began coverage on shares of PolyOne in a research report on Monday, December 10th. They issued a hold rating for the company. ValuEngine lowered shares of PolyOne from a hold rating to a sell rating in a research report on Tuesday, October 23rd. Oppenheimer decreased their target price on shares of PolyOne from $50.00 to $43.00 and set an outperform rating for the company in a research report on Friday, October 26th. Robert W. Baird reduced their price objective on shares of PolyOne from $46.00 to $39.00 and set a neutral rating for the company in a research report on Thursday, October 25th. Finally, Wellington Shields lowered shares of PolyOne from a gradually accumulate rating to a hold rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. PolyOne presently has a consensus rating of Hold and a consensus target price of $39.50.
Shares of PolyOne stock traded down $0.13 during trading on Tuesday, hitting $30.88. 11,514 shares of the stock were exchanged, compared to its average volume of 502,323. The firm has a market capitalization of $2.46 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.16 and a beta of 1.67. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.27 and a current ratio of 1.86. PolyOne has a 12 month low of $26.16 and a 12 month high of $47.48.
PolyOne (NYSE:POL) last announced its earnings results on Wednesday, October 24th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.62. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $887.93 million. PolyOne had a net margin of 5.33% and a return on equity of 32.72%. PolyOne’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. As a group, sell-side analysts forecast that PolyOne will post 2.42 earnings per share for the current year.
In other news, SVP J Scott Horn acquired 6,000 shares of PolyOne stock in a transaction on Monday, October 29th. The stock was bought at an average cost of $31.69 per share, with a total value of $190,140.00. Following the completion of the purchase, the senior vice president now owns 10,271 shares of the company’s stock, valued at $325,487.99. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP M. John Jr. Midea acquired 1,050 shares of PolyOne stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $31.08 per share, with a total value of $32,634.00. Following the completion of the purchase, the senior vice president now directly owns 3,836 shares of the company’s stock, valued at approximately $119,222.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,050 shares of company stock valued at $529,174. Insiders own 1.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Federated Investors Inc. PA lifted its stake in PolyOne by 4.5% during the third quarter. Federated Investors Inc. PA now owns 31,627 shares of the specialty chemicals company’s stock valued at $1,383,000 after buying an additional 1,348 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in PolyOne by 17.6% during the third quarter. Riverhead Capital Management LLC now owns 10,708 shares of the specialty chemicals company’s stock valued at $468,000 after buying an additional 1,600 shares in the last quarter. Legal & General Group Plc lifted its stake in PolyOne by 1.8% during the third quarter. Legal & General Group Plc now owns 103,156 shares of the specialty chemicals company’s stock valued at $4,510,000 after buying an additional 1,860 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of PolyOne by 64.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,521 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 2,161 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of PolyOne by 1.8% in the third quarter. Bahl & Gaynor Inc. now owns 134,205 shares of the specialty chemicals company’s stock worth $5,868,000 after purchasing an additional 2,428 shares in the last quarter. 92.40% of the stock is owned by institutional investors.
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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