Nexeo Solutions (NXEO) Stock Rating Upgraded by Zacks Investment Research
Nexeo Solutions (NASDAQ:NXEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “
Other equities analysts also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.50 price target (down previously from $9.50) on shares of Nexeo Solutions in a research note on Thursday, August 10th. Credit Suisse Group AG dropped their price target on shares of Nexeo Solutions from $10.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 11th.
Nexeo Solutions (NASDAQ:NXEO) traded down 0.52% during mid-day trading on Wednesday, reaching $7.58. 222,857 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $7.24 and a 200-day moving average of $8.27. 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 $676.23 million and a price-to-earnings ratio of 61.13.
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In other news, insider David A. Bradley bought 80,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $7.39 per share, with a total value of $591,200.00. Following the completion of the purchase, the insider now directly owns 135,000 shares of the company’s stock, valued at $997,650. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Select Fund Ii L.P. Fpa bought 18,700 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were purchased 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 ninety days, insiders have bought 807,700 shares of company stock valued at $5,802,958 and have sold 2,017,796 shares valued at $16,450,488. 0.07% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC bought a new position in Nexeo Solutions during the second quarter worth $106,000. Nationwide Fund Advisors bought a new position in Nexeo Solutions during the second quarter worth $121,000. Symphony Asset Management LLC raised its stake in Nexeo Solutions by 4.2% during 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 bought a new position in Nexeo Solutions during the second quarter worth $174,000. Finally, Trexquant Investment LP bought a new position in Nexeo Solutions during the second quarter worth $213,000. 94.07% of the stock is owned by institutional investors and hedge funds.
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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