Nexeo Solutions (NXEO) Earns “Hold” Rating from Jefferies Group LLC
Nexeo Solutions (NASDAQ:NXEO)‘s stock had its “hold” rating reaffirmed by Jefferies Group LLC in a report released on Friday. They presently have a $8.50 price objective on the basic materials company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 18.06% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Nexeo Solutions from a “sell” rating to a “hold” rating in a research report on Saturday. Credit Suisse Group cut their price objective on shares of Nexeo Solutions from $10.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 11th.
Nexeo Solutions (NASDAQ NXEO) traded up 2.56% during mid-day trading on Friday, hitting $7.20. 491,811 shares of the stock traded hands. The firm’s 50-day moving average is $7.46 and its 200-day moving average is $8.45. Nexeo Solutions has a 12-month low of $6.74 and a 12-month high of $9.94. The company has a market cap of $642.33 million and a price-to-earnings ratio of 58.06.
In other news, major shareholder Park West Asset Management Llc sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $8.43, for a total value of $84,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Select Maple Fund L.P. Fpa acquired 251,310 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was purchased at an average cost of $7.00 per share, with a total value of $1,759,170.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 807,700 shares of company stock valued at $5,802,958 and sold 2,222,562 shares valued at $18,127,522. Insiders own 0.07% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Symphony Asset Management LLC raised its position in shares of Nexeo Solutions by 4.2% in the second quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock valued at $169,000 after buying an additional 815 shares during the last quarter. Steinberg Global Asset Management increased its position in Nexeo Solutions by 3.7% during the second quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock worth $230,000 after purchasing an additional 1,000 shares during the last quarter. Wittenberg Investment Management Inc. increased its position in Nexeo Solutions by 2.8% during the second quarter. Wittenberg Investment Management Inc. now owns 73,511 shares of the basic materials company’s stock worth $610,000 after purchasing an additional 2,002 shares during the last quarter. Voya Investment Management LLC acquired a new position in Nexeo Solutions during the second quarter worth approximately $106,000. Finally, Nationwide Fund Advisors acquired a new position in Nexeo Solutions during the second quarter worth approximately $121,000. 94.07% of the stock is owned by institutional investors and hedge funds.
About Nexeo Solutions
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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