PolyOne (NYSE:POL) was upgraded by investment analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $36.00 price objective on the specialty chemicals company’s stock. Northcoast Research’s target price would suggest a potential upside of 26.05% from the company’s previous close. Northcoast Research also issued estimates for PolyOne’s Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.46 EPS, FY2019 earnings at $2.45 EPS, Q1 2020 earnings at $0.72 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.74 EPS, Q4 2020 earnings at $0.52 EPS and FY2020 earnings at $2.75 EPS.
A number of other brokerages have also issued reports on POL. Buckingham Research initiated coverage on PolyOne in a research note on Tuesday, February 5th. They set a “buy” rating and a $32.40 price target for the company. Zacks Investment Research lowered PolyOne from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. Finally, ValuEngine lowered PolyOne from a “sell” rating to a “strong sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.83.
Shares of NYSE POL opened at $28.56 on Thursday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.79 and a quick ratio of 1.17. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.20 and a beta of 1.71. PolyOne has a 1 year low of $26.16 and a 1 year high of $45.70.
PolyOne (NYSE:POL) last issued its quarterly earnings results on Wednesday, April 17th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $899.90 million for the quarter, compared to the consensus estimate of $922.33 million. PolyOne had a net margin of 4.52% and a return on equity of 33.46%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. Equities research analysts forecast that PolyOne will post 2.56 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aurora Investment Counsel bought a new stake in shares of PolyOne during the 1st quarter worth $620,000. Quantitative Systematic Strategies LLC bought a new stake in shares of PolyOne during the 1st quarter worth $616,000. Sciencast Management LP bought a new stake in shares of PolyOne during the 1st quarter worth $223,000. First Citizens Bank & Trust Co. boosted its stake in shares of PolyOne by 38.8% during the 1st quarter. First Citizens Bank & Trust Co. now owns 10,807 shares of the specialty chemicals company’s stock worth $317,000 after acquiring an additional 3,021 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of PolyOne by 4.6% during the 4th quarter. Deutsche Bank AG now owns 350,447 shares of the specialty chemicals company’s stock worth $10,021,000 after acquiring an additional 15,344 shares in the last quarter. 93.53% of the stock is owned by institutional investors and hedge funds.
PolyOne Company Profile
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.
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