Univar Inc. (UNVR) Downgraded to “Hold” at Zacks Investment Research
Univar Inc. (NYSE:UNVR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued 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. “
UNVR has been the subject of several other research reports. Jefferies Group started coverage on Univar in a report on Friday, September 9th. They issued a “buy” rating and a $26.00 price target for the company. Barclays PLC upped their price objective on 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 Univar and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Univar in a research note on Sunday, September 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.67.
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Univar (NYSE:UNVR) traded up 0.47% during mid-day trading on Tuesday, hitting $21.58. The stock had a trading volume of 27,594 shares. The firm has a market cap of $2.98 billion, a P/E ratio of 47.12 and a beta of 1.23. Univar has a 1-year low of $10.65 and a 1-year high of $22.76. The stock has a 50 day moving average of $20.87 and a 200-day moving average of $19.12.
Univar (NYSE:UNVR) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. The firm earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Univar had a return on equity of 7.73% and a net margin of 0.75%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) EPS. Analysts predict that Univar will post $0.72 EPS for the current fiscal year.
In other Univar news, insider Christopher Oversby sold 18,362 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $20.22, for a total value of $371,279.64. Following the transaction, the insider now directly owns 99,479 shares in the company, valued at approximately $2,011,465.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Nv Univar sold 20,527,358 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $19.00, for a total value of $390,019,802.00. 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 made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in shares of Univar by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 120,574 shares of the company’s stock worth $2,281,000 after buying an additional 1,350 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Univar by 16.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 31,254 shares of the company’s stock worth $591,000 after buying an additional 4,329 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Univar during the second quarter worth approximately $917,000. A.R.T. Advisors LLC raised its position in shares of Univar by 75.5% in the second quarter. A.R.T. Advisors LLC now owns 78,166 shares of the company’s stock worth $1,478,000 after buying an additional 33,616 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Univar by 56.0% in the second quarter. Barclays PLC now owns 67,100 shares of the company’s stock worth $1,269,000 after buying an additional 24,100 shares during the last quarter. Hedge funds and other institutional investors own 80.18% 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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