Zacks Investment Research Downgrades Univar Inc. (UNVR) to Hold
Univar Inc. (NYSE:UNVR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 analysts have also recently weighed in on the stock. Jefferies Group began 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. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Univar in a research report on Sunday, September 4th. Barclays PLC upped their price target on shares of Univar from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th. Finally, Bank of America Corp. set a $22.00 price target on shares of Univar and gave the stock a “buy” rating in a research report on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Univar has a consensus rating of “Hold” and an average target price of $23.20.
Univar (NYSE:UNVR) opened at 23.64 on Wednesday. Univar has a one year low of $10.65 and a one year high of $24.08. The stock’s market cap is $3.27 billion. The firm’s 50 day moving average price is $21.96 and its 200 day moving average price is $19.73.
Univar (NYSE:UNVR) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Univar had a negative net margin of 0.15% and a positive return on equity of 8.52%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Univar’s revenue was down 90.9% on a year-over-year basis. Equities analysts forecast that Univar will post $0.67 earnings per share for the current year.
In other news, major shareholder Nv Univar sold 20,527,358 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Oversby sold 18,362 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were 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 owns 99,479 shares in the company, valued at approximately $2,011,465.38. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Univar during the third quarter worth about $128,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Univar during the second quarter worth about $123,000. Teacher Retirement System of Texas raised its stake in shares of Univar by 62.0% in the second quarter. Teacher Retirement System of Texas now owns 6,808 shares of the company’s stock worth $129,000 after buying an additional 2,606 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in Univar during the third quarter valued at $214,000. Finally, Bank of Montreal Can acquired a new stake in Univar during the third quarter valued at $258,000. Institutional investors and hedge funds own 79.96% 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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