Univar Inc. (UNVR) Downgraded by Zacks Investment Research to Hold
Univar Inc. (NYSE:UNVR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Several other research analysts have also recently commented on the company. Jefferies Group assumed coverage on Univar in a research note on Friday, September 9th. They set a “buy” rating and a $26.00 target price for the company. Wells Fargo & Co. reissued a “hold” rating on shares of Univar in a research note on Sunday, September 4th. Barclays PLC boosted their target price on Univar from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 16th. Finally, Bank of America Corp. set a $22.00 target price on Univar and gave the stock a “buy” rating in a research note on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.67.
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Univar (NYSE:UNVR) traded up 0.37% during trading on Tuesday, hitting $21.56. The stock had a trading volume of 27,154 shares. Univar has a one year low of $10.65 and a one year high of $22.76. The firm has a 50 day moving average of $20.87 and a 200-day moving average of $19.12. The company has a market cap of $2.97 billion, a P/E ratio of 47.07 and a beta of 1.23.
Univar (NYSE:UNVR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.13. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.23 billion. Univar had a return on equity of 7.73% and a net margin of 0.75%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. Equities analysts anticipate that Univar will post $0.72 earnings per share for the current fiscal year.
In other news, major shareholder Nv Univar sold 20,527,358 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was 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 through this hyperlink. Also, Director Christopher D. Pappas bought 5,000 shares of Univar stock in a transaction dated Friday, August 12th. The stock was purchased at an average cost of $19.33 per share, with a total value of $96,650.00. Following the completion of the acquisition, the director now directly owns 55,088 shares in the company, valued at approximately $1,064,851.04. The disclosure for this purchase can be found here. Insiders own 2.49% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new stake in Univar during the first quarter valued at $419,000. Royce & Associates LP increased its stake in Univar by 34.1% in the first quarter. Royce & Associates LP now owns 455,539 shares of the company’s stock valued at $7,826,000 after buying an additional 115,794 shares during the last quarter. Spark Investment Management LLC increased its stake in Univar by 472.4% in the first quarter. Spark Investment Management LLC now owns 69,800 shares of the company’s stock valued at $1,199,000 after buying an additional 57,605 shares during the last quarter. HBK Investments L P purchased a new stake in Univar during the first quarter valued at $1,100,000. Finally, A.R.T. Advisors LLC purchased a new stake in Univar during the first quarter valued at $765,000. 80.18% of the stock is owned by institutional investors and hedge funds.
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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