PolyOne (POL) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of PolyOne (NYSE:POL) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $33.00 target price 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 analysts also recently issued research reports about the stock. ValuEngine downgraded shares of PolyOne from a hold rating to a sell rating in a report on Tuesday, October 23rd. Wellington Shields downgraded shares of PolyOne from a gradually accumulate rating to a hold rating in a report on Wednesday, October 24th. KeyCorp reaffirmed an overweight rating and issued a $43.00 target price (down previously from $50.00) on shares of PolyOne in a report on Thursday, October 25th. 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 note on Thursday, October 25th. Finally, Oppenheimer reduced their price objective on shares of PolyOne from $50.00 to $43.00 and set an outperform rating for the company in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $39.50.



NYSE:POL traded down $0.13 during midday trading on Tuesday, hitting $30.88. 11,514 shares of the company were exchanged, compared to its average volume of 502,323. PolyOne has a fifty-two week low of $26.16 and a fifty-two week high of $47.48. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.86 and a quick ratio of 1.27. 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.

PolyOne (NYSE:POL) last issued its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. PolyOne had a net margin of 5.33% and a return on equity of 32.72%. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $887.93 million. During the same period last year, the firm posted $0.58 EPS. PolyOne’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that PolyOne will post 2.42 EPS for the current year.

In other news, SVP J Scott Horn acquired 6,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average price of $31.69 per share, with a total value of $190,140.00. Following the completion of the transaction, the senior vice president now directly owns 10,271 shares in the company, valued at approximately $325,487.99. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert E. Abernathy acquired 10,000 shares of the business’s stock in a transaction dated Thursday, October 25th. The stock was purchased at an average cost of $30.64 per share, with a total value of $306,400.00. Following the transaction, the director now owns 11,593 shares of the company’s stock, valued at $355,209.52. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 17,050 shares of company stock valued at $529,174. 1.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in PolyOne by 2.8% in the third quarter. BlackRock Inc. now owns 9,596,508 shares of the specialty chemicals company’s stock valued at $419,559,000 after purchasing an additional 257,540 shares during the period. Victory Capital Management Inc. grew its stake in PolyOne by 0.8% during the third quarter. Victory Capital Management Inc. now owns 1,458,407 shares of the specialty chemicals company’s stock worth $63,761,000 after buying an additional 11,350 shares during the period. Millennium Management LLC grew its stake in PolyOne by 28.1% during the second quarter. Millennium Management LLC now owns 188,511 shares of the specialty chemicals company’s stock worth $8,147,000 after buying an additional 41,380 shares during the period. Nisa Investment Advisors LLC grew its stake in PolyOne by 8.6% during the third quarter. Nisa Investment Advisors LLC now owns 116,797 shares of the specialty chemicals company’s stock worth $5,106,000 after buying an additional 9,200 shares during the period. Finally, Trexquant Investment LP purchased a new stake in PolyOne during the third quarter worth approximately $279,000. 92.40% of the stock is owned by institutional investors and hedge funds.

About PolyOne

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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