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 currently has a $25.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 18.65% 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. “
Other research analysts have also issued reports about the stock. Jefferies Group started coverage on shares of Univar in a research report on Friday, September 9th. They set a “buy” rating and a $26.00 price target on the stock. 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. Barclays PLC raised 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. Wells Fargo & Co. reissued a “hold” rating on shares of Univar in a research report on Sunday, September 4th. Finally, Credit Suisse Group AG reissued a “neutral” rating on shares of Univar in a research report on Friday, June 17th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $22.67.
Univar (NYSE:UNVR) opened at 21.07 on Wednesday. The firm’s 50 day moving average is $20.81 and its 200-day moving average is $19.03. Univar has a 12 month low of $10.65 and a 12 month high of $22.76. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 46.00 and a beta of 1.24.
Univar (NYSE:UNVR) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. Univar had a net margin of 0.75% and a return on equity of 7.73%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities analysts forecast that Univar will post $0.72 EPS for the current year.
In other news, major shareholder Nv Univar sold 20,527,358 shares of Univar stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $19.00, for a total value of $390,019,802.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher D. Pappas bought 5,000 shares of Univar stock in a transaction dated Friday, August 12th. The stock was acquired at an average price of $19.33 per share, with a total value of $96,650.00. Following the purchase, the director now directly owns 55,088 shares of the company’s stock, valued at $1,064,851.04. The disclosure for this purchase can be found here. 2.49% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its position in Univar by 16.2% in the second quarter. California Public Employees Retirement System now owns 38,700 shares of the company’s stock valued at $732,000 after buying an additional 5,400 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Univar during the second quarter valued at $11,473,000. Swiss National Bank increased its position in Univar by 33.1% in the second quarter. Swiss National Bank now owns 81,200 shares of the company’s stock valued at $1,535,000 after buying an additional 20,200 shares during the last quarter. California State Teachers Retirement System increased its position in Univar by 5.8% in the second quarter. California State Teachers Retirement System now owns 90,174 shares of the company’s stock valued at $1,705,000 after buying an additional 4,939 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Univar by 7.5% in the second quarter. Bank of New York Mellon Corp now owns 133,692 shares of the company’s stock valued at $2,529,000 after buying an additional 9,299 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.
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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