Univar Inc. (UNVR) Rating Increased to Strong-Buy at Zacks Investment Research
Univar Inc. (NYSE:UNVR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The firm presently has a $25.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 16.60% from the company’s previous close.
According to Zacks, “Univar Inc. is a distributor of chemicals and innovative services. The Company offers solvents, resins, pigments, acids, bases, surfactants, glycols, inorganic compounds and alcohols. It also offers transportation and warehousing infrastructure, chemicals and hazardous materials handling services. The Company’s operating geographical segments include Univar USA, Univar Canada, Univar Europe and the Middle East as well as Rest of World. It serves coatings and adhesives, food, oil and gas, personal care and pharmaceutical industries. Univar Inc. is headquartered in Downers Grove, Illinois. “
A number of other research firms also recently issued reports on UNVR. Wells Fargo & Co. reiterated a “hold” rating on shares of Univar in a research report on Sunday, September 4th. Credit Suisse Group AG reiterated a “neutral” rating on shares of Univar in a research report on Friday, June 17th. Barclays PLC lifted their price target on shares of Univar from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 16th. Bank of America Corp. set a $22.00 price target on shares of Univar and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, Jefferies Group assumed coverage on shares of Univar in a research report on Friday, September 9th. They set a “buy” rating and a $26.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.67.
Univar (NYSE:UNVR) opened at 21.44 on Wednesday. Univar has a one year low of $10.65 and a one year high of $22.76. The firm has a market cap of $2.96 billion, a PE ratio of 46.81 and a beta of 1.24. The stock has a 50 day moving average price of $20.74 and a 200 day moving average price of $19.00.
Univar (NYSE:UNVR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.13. The firm earned $2.30 billion during the quarter, compared to the consensus estimate of $2.23 billion. Univar had a net margin of 0.75% and a return on equity of 7.73%. The firm’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. Equities research analysts expect that Univar will post $0.72 EPS for the current year.
In other news, Director Christopher D. Pappas bought 5,000 shares of the stock in a transaction on Friday, August 12th. The stock was purchased at an average cost of $19.33 per share, with a total value of $96,650.00. Following the purchase, the director now owns 55,088 shares of the company’s stock, valued at $1,064,851.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Oversby sold 18,362 shares of Univar stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $20.22, for a total transaction of $371,279.64. Following the completion of the sale, the insider now directly owns 99,479 shares of the company’s stock, valued at $2,011,465.38. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new stake in Univar during the first quarter valued at approximately $419,000. Royce & Associates LP boosted its stake in Univar by 34.1% in the first quarter. Royce & Associates LP now owns 455,539 shares of the company’s stock valued at $7,826,000 after buying an additional 115,794 shares during the last quarter. Spark Investment Management LLC boosted its stake in Univar by 472.4% in the first quarter. Spark Investment Management LLC now owns 69,800 shares of the company’s stock valued at $1,199,000 after buying an additional 57,605 shares during the last quarter. HBK Investments L P purchased a new stake in Univar during the first quarter valued at approximately $1,100,000. Finally, Legal & General Group Plc boosted its stake in Univar by 41.5% in the first quarter. Legal & General Group Plc now owns 7,235 shares of the company’s stock valued at $125,000 after buying an additional 2,123 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.
Univar Inc is a distributor of commodity and specialty chemicals. The Company’s segments include Univar USA (USA); Univar Canada (Canada); Univar Europe, the Middle East and Africa (EMEA), and Rest of World. The Rest of World segment includes developing businesses in Latin America, including Brazil and Mexico, and the Asia-Pacific region.
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