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Downgrade Alert for PolyOne (POL)

By Amy Schwartz

PolyOne (NYSE:POL) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $36.71 on volume of 618,000 shares, above average daily volume of 604,000.

In the past 52 weeks, PolyOne share prices have been bracketed by a low of $22.35 and a high of $41.20 and closed yesterday at $36.71, 64% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has remained constant.

PolyOne has overhead space with shares priced $36.71, or 14.1% below the average consensus analyst price target of $42.75. The stock should find initial support at its 200-day moving average (MA) of $31.35 and further support at its 50-day MA of $30.99.

PolyOne Corporation is an international polymer services company with operations in North America, Europe, Asia, Australia, and South America. The Company provides thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, and color and additive systems. PolyOne also conducts operations in rubber compounding and thermoplastic resin distribution.

SmarTrend is tracking the current trend status for PolyOne and will alert subscribers who have POL in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades polyone

Ticker(s): POL