Zacks Investment Research Upgrades Nexeo Solutions (NXEO) to Buy
Nexeo Solutions (NASDAQ:NXEO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $13.00 target price on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.94% from the company’s current price.
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. “
Separately, SunTrust Banks lowered shares of Nexeo Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.67.
Nexeo Solutions (NASDAQ:NXEO) last posted its earnings results on Monday, August 6th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.12. Nexeo Solutions had a net margin of 1.45% and a return on equity of 8.13%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $994.50 million. Analysts forecast that Nexeo Solutions will post 0.72 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zebra Capital Management LLC grew its position in Nexeo Solutions by 324.8% during the second quarter. Zebra Capital Management LLC now owns 71,614 shares of the basic materials company’s stock valued at $654,000 after buying an additional 54,757 shares during the period. Swiss National Bank grew its position in Nexeo Solutions by 20.8% during the second quarter. Swiss National Bank now owns 59,835 shares of the basic materials company’s stock valued at $546,000 after buying an additional 10,300 shares during the period. Argent Capital Management LLC bought a new position in Nexeo Solutions during the second quarter valued at about $1,112,000. Mackay Shields LLC bought a new position in Nexeo Solutions during the second quarter valued at about $462,000. Finally, Renaissance Technologies LLC grew its position in Nexeo Solutions by 16.1% during the second quarter. Renaissance Technologies LLC now owns 982,992 shares of the basic materials company’s stock valued at $8,975,000 after buying an additional 136,392 shares during the period. Hedge funds and other institutional investors own 93.73% of the company’s stock.
About Nexeo Solutions
Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. The company operates through Chemicals, Plastics, and Environmental Services segments. It provides approximately 22,000 products used in various industries, including household, industrial and institutional, lubricants, architectural coatings, adhesives, sealants, elastomers, automotive, healthcare, personal care, oil and gas, and construction.
Recommended Story: Stock Symbol
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nexeo Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexeo Solutions and related companies with MarketBeat.com's FREE daily email newsletter.