Zacks Investment Research Upgrades Univar Inc. (UNVR) to Strong-Buy
Univar Inc. (NYSE:UNVR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $25.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 16.60% from the stock’s current price.
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 research firms have also commented on UNVR. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Univar in a research note on Sunday, September 4th. Jefferies Group began coverage on shares of Univar in a research note on Friday, September 9th. They issued a “buy” rating and a $26.00 price objective on the stock. Barclays PLC upped their price objective on shares of Univar from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th. Bank of America Corp. set a $22.00 price objective on shares of Univar and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Univar in a research note on Friday, June 17th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.67.
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Univar (NYSE:UNVR) opened at 21.44 on Wednesday. The company has a 50-day moving average of $20.74 and a 200 day moving average of $19.00. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 46.81 and a beta of 1.24. Univar has a one year low of $10.65 and a one year high of $22.76.
Univar (NYSE:UNVR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.13. Univar had a net margin of 0.75% and a return on equity of 7.73%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm posted ($0.12) EPS. The company’s quarterly revenue was down 9.9% on a year-over-year basis. On average, analysts anticipate that Univar will post $0.72 EPS for the current year.
In other Univar news, major shareholder Nv Univar sold 20,527,358 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $19.00, for a total transaction of $390,019,802.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Oversby sold 18,362 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $20.22, for a total transaction of $371,279.64. Following the transaction, 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. Corporate insiders own 2.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNVR. UBS Asset Management Americas Inc. increased its position in Univar by 5.0% in the second quarter. UBS Asset Management Americas Inc. now owns 22,986 shares of the company’s stock valued at $435,000 after buying an additional 1,086 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Univar by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 120,574 shares of the company’s stock valued at $2,281,000 after buying an additional 1,350 shares during the last quarter. American International Group Inc. raised its stake in Univar by 6.0% in the second quarter. American International Group Inc. now owns 24,756 shares of the company’s stock valued at $468,000 after buying an additional 1,403 shares during the last quarter. Legal & General Group Plc raised its stake in Univar by 41.5% in the first quarter. Legal & General Group Plc now owns 7,235 shares of the company’s stock valued at $125,000 after buying an additional 2,123 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Univar by 8.6% in the second quarter. Nationwide Fund Advisors now owns 28,096 shares of the company’s stock valued at $531,000 after buying an additional 2,218 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.
Univar Company Profile
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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