Goldman Sachs Downgrades PolyOne Corporation to Neutral with Price Target $38.00

Brokerage firm Goldman Sachs Downgrades its rating on PolyOne Corporation(NYSE:POL). In a research note issued to the investors, the brokerage major Lowers the price-target to $38.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jul 28, 2016.

PolyOne Corporation (POL) shares turned negative on Thursdays trading session with the shares closing down -0.03 points or -0.09% at a volume of 2,21,483. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.39. The peak price level was also seen at $35.39 while the days lowest was $34.96. Finally the shares closed at $35.07. The 52-week high of the shares is $38.41 while the 52-week low is $22.35. According to the latest information available, the market cap of the company is $2,948 M.

PolyOne Corporation has also declared a cash dividend of $0.1200 on Jul 14, 2016. The shares will quote ex-dividend on Sep 14, 2016 and the record date has been fixed on Sep 16, 2016. The dividend payable date has been fixed on Oct 6, 2016.

PolyOne Corporation(POL) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $861.50M. Analysts had an estimated revenue of $878.11M. Earnings per share were $0.63. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, William Howard Powell (director) sold 5,881 shares at $36.70 per share price.Also, On Feb 4, 2016, William R Jellison (director) purchased 4,000 shares at $24.84 per share price.On Dec 4, 2015, Stephen D Newlin (Executive Chairman) sold 43,493 shares at $34.40 per share price, according to the Form-4 filing with the securities and exchange commission.

PolyOne Corporation (PolyOne) is a provider of polymer materials services and solutions. The Company offers specialty polymer formulations color and additive systems plastic sheet and packaging solutions and polymer distribution. The Company operates in five segments: Global Color Additives and Inks; which provides color and additive concentrates; Global Specialty Engineered Materials which offers polymer formulations services and solutions; Designed Structures and Solutions which provides solutions for engineered polymer structures rigid barrier packaging and specialty cast acrylics; Performance Products and Solutions segment consists of the Geon Performance Materials (Geon) and Producer Services business units and PolyOne Distribution segment distributes engineering and commodity grade resins. It offers ColorMatrix fiber colorant solutions which provides late-stage color injection in fiber applications utilizing liquid solutions.

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