Oppenheimer analyst Colin Rusch maintained a Buy rating on Polyone Corp (POL) today and set a price target of $40. The company’s shares opened today at $32.67.
Rusch observed:
“POL continues to encounter pockets of market weakness with the EU showing softness in 4Q18 and in order activity to start the year. Given the strong profitability of its EU business, we see an outsized impact to bottom-line numbers given those market dynamics. We continue to be encouraged by the company’s strategic focus on leveraging its technology platform into higher value applications, specifically with its efforts on sustainability. We believe these opportunities will prove to be higher margin, growth areas for the company over time. Given POL’s limited visibility at present, we are trimming estimates, understanding that we may need to raise them later this year. We remain constructive on shares given capable management through a difficult environment and low investor expectations on financials.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 8.6% and a 45.8% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
Polyone Corp has an analyst consensus of Hold, with a price target consensus of $32.
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Polyone Corp’s market cap is currently $2.57B and has a P/E ratio of 14.05. The company has a Price to Book ratio of 4.19.
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PolyOne Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution.
