Nexeo Solutions (NXEO) Upgraded by Zacks Investment Research to Hold
Nexeo Solutions (NASDAQ:NXEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Nexeo Solutions, Inc. distributes chemicals and plastics products. The company’s line of business consists of Chemicals, Plastics and Environmental Services. It operates primarily in North America, Europe, the Middle East and Africa and Asia. Nexeo Solutions, Inc. is based in The Woodlands, Texas. “
A number of other analysts have also recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and set a $8.50 price objective on shares of Nexeo Solutions in a research report on Thursday, October 19th. ValuEngine raised Nexeo Solutions from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Finally, Credit Suisse Group reduced their price objective on Nexeo Solutions from $10.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Nexeo Solutions currently has a consensus rating of “Hold” and an average target price of $9.00.
Nexeo Solutions (NASDAQ:NXEO) opened at 7.39 on Wednesday. The stock has a market capitalization of $659.28 million and a P/E ratio of 59.60. The stock has a 50 day moving average price of $7.39 and a 200-day moving average price of $8.08. Nexeo Solutions has a 12-month low of $6.74 and a 12-month high of $9.94.
In related news, major shareholder Select Maple Fund L.P. Fpa purchased 251,310 shares of Nexeo Solutions stock in a transaction on Thursday, August 31st. The stock was bought at an average price of $7.00 per share, with a total value of $1,759,170.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Select Fund Ii L.P. Fpa purchased 18,700 shares of Nexeo Solutions stock in a transaction on Tuesday, September 12th. The stock was bought at an average cost of $7.13 per share, with a total value of $133,331.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 807,700 shares of company stock valued at $5,802,958. Insiders own 0.07% of the company’s stock.
Several large investors have recently made changes to their positions in NXEO. Voya Investment Management LLC acquired a new stake in shares of Nexeo Solutions in the second quarter worth about $106,000. Nationwide Fund Advisors acquired a new stake in shares of Nexeo Solutions in the second quarter worth about $121,000. Symphony Asset Management LLC lifted its position in shares of Nexeo Solutions by 4.2% in the second quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock worth $169,000 after buying an additional 815 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Nexeo Solutions in the second quarter worth about $174,000. Finally, Trexquant Investment LP acquired a new stake in shares of Nexeo Solutions in the second quarter worth about $213,000. 94.20% of the stock is owned by institutional investors.
About Nexeo Solutions
Nexeo Solutions Inc, formerly WL Ross Holding Corp., is global distributor of chemicals products in North America and Asia, and plastics products in North America, Europe, the Middle East and Africa (EMEA) and Asia. The Company provides services, such as custom blending, packaging and re-packaging, private-label manufacturing and product testing in the form of chemical analysis, product performance analysis and product development.
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