Univar Inc. (UNVR) Upgraded at Zacks Investment Research
Univar Inc. (NYSE:UNVR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $24.00 price objective on the stock. Zacks Investment Research’s target price points to a potential upside of 11.68% from the stock’s previous close.
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. “
Other analysts have also issued reports about the stock. Wells Fargo & Co. restated a “hold” rating on shares of Univar in a report on Sunday, September 4th. Bank of America Corp. set a $22.00 target price on shares of Univar and gave the company a “buy” rating in a research note on Thursday, August 11th. Barclays PLC downgraded shares of Univar from an “overweight” rating to an “equal weight” rating and set a $20.00 target price for the company. in a research note on Friday, June 24th. They noted that the move was a valuation call. Finally, Jefferies Group initiated coverage on shares of Univar in a research note on Friday, September 9th. They set a “buy” rating and a $26.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $22.50.
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Univar (NYSE:UNVR) traded up 1.49% during trading on Wednesday, reaching $21.81. The company had a trading volume of 274,868 shares. The firm’s 50 day moving average price is $20.90 and its 200 day moving average price is $19.15. The firm has a market capitalization of $3.01 billion, a PE ratio of 47.62 and a beta of 1.24. Univar has a 12-month low of $10.65 and a 12-month high of $22.76.
Univar (NYSE:UNVR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ 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 business earned $2.30 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the business posted ($0.12) earnings per share. Univar’s quarterly revenue was down 9.9% compared to the same quarter last year. Equities research analysts forecast that Univar will post $0.72 EPS for the current year.
In other news, Director Christopher D. Pappas purchased 5,000 shares of Univar stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average price of $19.33 per share, with a total value of $96,650.00. Following the completion of the transaction, the director now directly owns 55,088 shares of the company’s stock, valued at $1,064,851.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Oversby sold 18,362 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $20.22, for a total transaction of $371,279.64. Following the sale, the insider now directly owns 99,479 shares of the company’s stock, 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 large investors have recently bought and sold shares of UNVR. Longview Asset Management LLC bought a new stake in Univar during the second quarter worth approximately $227,835,000. Jennison Associates LLC increased its stake in Univar by 182.6% in the second quarter. Jennison Associates LLC now owns 3,471,352 shares of the company’s stock worth $65,643,000 after buying an additional 2,242,816 shares during the period. First Eagle Investment Management LLC bought a new stake in Univar during the second quarter worth approximately $27,242,000. Franklin Resources Inc. bought a new stake in Univar during the second quarter worth approximately $18,227,000. Finally, FMR LLC bought a new stake in Univar during the second quarter worth approximately $12,617,000. 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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