Zacks Investment Research Upgrades NEXEO SOLUTIONS (NXEO) to Hold
NEXEO SOLUTIONS (NASDAQ:NXEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other equities research analysts have also recently issued reports on NXEO. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.50 price target on shares of NEXEO SOLUTIONS in a research note on Friday, June 16th. Credit Suisse Group decreased their price target on shares of NEXEO SOLUTIONS from $10.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 11th.
NEXEO SOLUTIONS (NASDAQ:NXEO) traded up 0.68% during trading on Tuesday, hitting $7.35. 11,368 shares of the stock traded hands. The firm has a 50-day moving average price of $7.40 and a 200 day moving average price of $8.41. NEXEO SOLUTIONS has a 12 month low of $6.74 and a 12 month high of $9.94. The firm has a market cap of $655.71 million and a PE ratio of 59.27.
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In related news, major shareholder Select Fund Ii L.P. Fpa acquired 18,700 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average cost of $7.13 per share, for a total transaction of $133,331.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Park West Asset Management Llc sold 2,000,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $8.15, for a total transaction of $16,300,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 807,700 shares of company stock worth $5,802,958 and have sold 2,017,796 shares worth $16,450,488. Corporate insiders own 0.07% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Steinberg Global Asset Management lifted its holdings in shares of NEXEO SOLUTIONS by 3.7% during the 2nd quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock worth $230,000 after acquiring an additional 1,000 shares during the period. Spark Investment Management LLC purchased a new position in shares of NEXEO SOLUTIONS during the 2nd quarter worth about $329,000. Trexquant Investment LP purchased a new position in shares of NEXEO SOLUTIONS during the 2nd quarter worth about $213,000. Symphony Asset Management LLC lifted its holdings in shares of NEXEO SOLUTIONS by 4.2% during the 2nd quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 815 shares during the period. Finally, Wittenberg Investment Management Inc. lifted its holdings in shares of NEXEO SOLUTIONS by 2.8% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 73,511 shares of the basic materials company’s stock worth $610,000 after acquiring an additional 2,002 shares during the period. Institutional investors and hedge funds own 94.07% of the company’s stock.
NEXEO SOLUTIONS Company Profile
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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