Polyone (POL) received a Buy rating and a $30.00 price target from Morgan Stanley analyst Vincent Andrews today. The company’s shares closed last Wednesday at $25.78.
According to TipRanks.com, Andrews is a 2-star analyst with an average return of 0.5% and a 65.6% success rate. Andrews covers the Industrial Goods sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and Archer Daniels Midland.
Polyone has an analyst consensus of Strong Buy, with a price target consensus of $30.50.
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Based on Polyone’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $712 million and net profit of $32.8 million. In comparison, last year the company earned revenue of $751 million and had a net profit of $38.2 million.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of POL in relation to earlier this year.
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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. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers and silicone colorants. It operates through the following segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, speciality inks, plasticols, and vinyl slush molding solutions. The Specialty Engineered Materials segment makes polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials. The Distribution segment distributes engineering and commodity grade resins, including PolyOne-produced solutions, principally to the North American, Central American, and Asian markets. The firm’s products include polymer distribution, screen printing inks, and thermoplastic elastomers. Its services include IQ design and color services. The company was founded on August 31, 2000 and is headquartered in Avon Lake, OH.
