What’s OMNOVA Solutions Inc. (OMN) Upside After Reaching 52-Week High?

April 18, 2018 - By Adrian Erickson

OMNOVA Solutions Inc. (NYSE:OMN) Logo

Investors sentiment decreased to 1.04 in Q4 2017. Its down 0.07, from 1.11 in 2017Q3. It worsened, 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.
636,981 were accumulated by Thrivent Financial For Lutherans. Pdt Ptnrs Ltd Liability Corporation holds 0.01% or 23,700 shares. Bnp Paribas Arbitrage accumulated 8,975 shares. Gabelli Funds Ltd Liability Com invested in 910,000 shares or 0.05% of the stock. 301,466 are owned by Clarivest Asset Management Ltd Limited Liability Company. Gp reported 29,110 shares or 0% of all its holdings. Price T Rowe Assoc Inc Md invested in 0% or 37,418 shares. Comml Bank Of America De has invested 0% in OMNOVA Solutions Inc. (NYSE:OMN). Indexiq Advsr Lc has 142,305 shares for 0.05% of their portfolio. Gsa Capital Llp holds 0.06% or 94,350 shares in its portfolio. 195,973 are held by Wedge L L P Nc. Teton Advsr has invested 0.25% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN). Peak6 Invs Ltd Partnership holds 0% of its portfolio in OMNOVA Solutions Inc. (NYSE:OMN) for 100 shares. Scopus Asset Mngmt L P has invested 0.06% in OMNOVA Solutions Inc. (NYSE:OMN). Swiss National Bank owns 74,200 shares for 0% of their portfolio.

The stock of OMNOVA Solutions Inc. (NYSE:OMN) hit a new 52-week high and has $12.74 target or 8.00 % above today’s $11.80 share price. The 9 months bullish chart indicates low risk for the $528.66 million company. The 1-year high was reported on Apr, 18 by Barchart.com. If the $12.74 price target is reached, the company will be worth $42.29M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.72% or $0.2 during the last trading session, reaching $11.8. About 94,454 shares traded. OMNOVA Solutions Inc. (NYSE:OMN) has risen 16.76% since April 18, 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 earnings per share, up 18.75 % or $0.03 from last year’s $0.16 per share. OMN’s profit will be $8.51M for 15.53 P/E if the $0.19 EPS becomes a reality. After $0.09 actual earnings per share 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 $528.66 million. The firm operates in two divisions, Specialty Solutions and Performance Materials. It currently has negative earnings. The Specialty Solutions segment designs, develops, produces, and markets specialty polymers which are used in various applications, such as architectural and industrial coatings; nonwovens used in hygiene products, filtration, and construction; drilling additives for gas and oil 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.

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

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