Latest Stocks: Zacks Investment Research Upgrades PolyOne Co. (POL) to Buy

Latest Stocks: Zacks Investment Research Upgrades PolyOne Co. (POL) to Buy

PolyOne Co. (NYSE:POL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $42.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.69% from the stock’s current price.

According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “

POL has been the subject of several other reports. Jefferies Group LLC upgraded shares of PolyOne to a “hold” rating and set a $38.00 price target for the company in a research report on Thursday, March 2nd. TheStreet upgraded shares of PolyOne from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.75. PolyOne (POL) opened at 38.29 on Friday. The firm has a 50-day moving average of $37.72 and a 200-day moving average of $34.57. PolyOne has a 52 week low of $28.77 and a 52 week high of $40.88. The company has a market capitalization of $3.13 billion, a PE ratio of 18.60 and a beta of 1.60.

PolyOne (NYSE:POL) last announced its quarterly earnings results on Thursday, April 27th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. PolyOne had a net margin of 4.95% and a return on equity of 24.77%. The firm had revenue of $899 million during the quarter, compared to analysts’ expectations of $860.52 million. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that PolyOne will post $2.31 earnings per share for the current fiscal year. The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 16th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Wednesday, June 14th. PolyOne’s dividend payout ratio is currently 27.69%.

PolyOne (NYSE:POL) last announced its quarterly earnings results on Thursday, April 27th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. PolyOne had a net margin of 4.95% and a return on equity of 24.77%. The firm had revenue of $899 million during the quarter, compared to analysts’ expectations of $860.52 million. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that PolyOne will post $2.31 earnings per share for the current fiscal year. Several large investors have recently bought and sold shares of POL. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PolyOne by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 1,370 shares in the last quarter. Victory Capital Management Inc. raised its stake in PolyOne by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 1,336 shares in the last quarter. Tyers Asset Management LLC purchased a new stake in PolyOne during the fourth quarter worth approximately $150,000. Creative Planning raised its stake in PolyOne by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 836 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in PolyOne by 76.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock worth $167,000 after buying an additional 2,126 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.

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