Analysts Set PolyOne Co. (NYSE:POL) Target Price at $33.14

Shares of PolyOne Co. (NYSE:POL) have been given a consensus rating of “Buy” by the eleven brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.43.

A number of research firms have recently issued reports on POL. Zacks Investment Research upgraded PolyOne from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, March 18th. Stifel Nicolaus upgraded PolyOne from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Co lowered their target price on PolyOne from $42.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday. ValuEngine upgraded PolyOne from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, TheStreet lowered PolyOne from a “b-” rating to a “c+” rating in a research note on Tuesday, December 10th.

In other PolyOne news, Director Richard H. Fearon purchased 3,500 shares of PolyOne stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $28.49 per share, with a total value of $99,715.00. Following the completion of the acquisition, the director now owns 103,980 shares of the company’s stock, valued at approximately $2,962,390.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP J Scott Horn purchased 5,000 shares of PolyOne stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average cost of $14.81 per share, with a total value of $74,050.00. Insiders purchased 18,500 shares of company stock valued at $313,205 in the last three months. 1.10% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in POL. Norges Bank bought a new position in PolyOne during the 4th quarter worth approximately $38,466,000. Millennium Management LLC lifted its holdings in PolyOne by 3,010.1% during the 3rd quarter. Millennium Management LLC now owns 651,944 shares of the specialty chemicals company’s stock worth $21,285,000 after buying an additional 630,982 shares during the last quarter. Bamco Inc. NY bought a new position in PolyOne during the 4th quarter worth approximately $14,716,000. Jennison Associates LLC lifted its holdings in PolyOne by 21.6% during the 4th quarter. Jennison Associates LLC now owns 1,604,222 shares of the specialty chemicals company’s stock worth $59,019,000 after buying an additional 284,848 shares during the last quarter. Finally, Man Group plc lifted its holdings in PolyOne by 113.2% during the 4th quarter. Man Group plc now owns 482,362 shares of the specialty chemicals company’s stock worth $17,747,000 after buying an additional 256,105 shares during the last quarter. 77.86% of the stock is currently owned by institutional investors.

Shares of POL stock traded up $1.18 during trading hours on Monday, reaching $18.89. The company had a trading volume of 1,154,357 shares, compared to its average volume of 1,322,625. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.78 and a current ratio of 2.15. PolyOne has a twelve month low of $8.69 and a twelve month high of $37.33. The company has a market capitalization of $1.56 billion, a P/E ratio of 2.49, a price-to-earnings-growth ratio of 1.04 and a beta of 1.84. The stock’s fifty day simple moving average is $24.62 and its 200 day simple moving average is $31.20.

PolyOne (NYSE:POL) last posted its earnings results on Tuesday, January 28th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. PolyOne had a return on equity of 24.03% and a net margin of 18.58%. The business had revenue of $658.60 million during the quarter, compared to analyst estimates of $687.36 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts expect that PolyOne will post 1.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Tuesday, March 17th will be issued a $0.203 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Monday, March 16th. PolyOne’s dividend payout ratio is currently 47.93%.

About PolyOne

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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Analyst Recommendations for PolyOne (NYSE:POL)

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