NEXEO SOLUTIONS (NXEO) Upgraded by Zacks Investment Research to Hold
NEXEO SOLUTIONS (NASDAQ:NXEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Nexeo Solutions, Inc. distributes chemicals and plastics products. The company’s line of business consists of Chemicals, Plastics and Environmental Services. It operates primarily in North America, Europe, the Middle East and Africa and Asia. Nexeo Solutions, Inc. is based in The Woodlands, Texas. “
NXEO has been the subject of several other reports. Credit Suisse Group decreased their price objective on NEXEO SOLUTIONS from $10.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 11th. Jefferies Group LLC restated a “hold” rating and issued a $9.50 price objective on shares of NEXEO SOLUTIONS in a report on Friday, June 16th.
Shares of NEXEO SOLUTIONS (NXEO) opened at 7.20 on Friday. NEXEO SOLUTIONS has a 52-week low of $6.74 and a 52-week high of $9.94. The stock has a market capitalization of $642.33 million and a P/E ratio of 58.06. The stock has a 50 day moving average of $7.46 and a 200-day moving average of $8.45.
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In other NEXEO SOLUTIONS news, insider Park West Asset Management Llc sold 2,000,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $8.15, for a total value of $16,300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Select Fund Ii L.P. Fpa bought 18,700 shares of NEXEO SOLUTIONS stock in a transaction on Tuesday, September 12th. The stock was purchased at an average price of $7.13 per share, with a total value of $133,331.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 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.
Institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC bought a new position in NEXEO SOLUTIONS in the second quarter worth about $106,000. Nationwide Fund Advisors bought a new position in NEXEO SOLUTIONS in the second quarter worth about $121,000. Symphony Asset Management LLC raised its holdings in 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 worth $169,000 after purchasing an additional 815 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in NEXEO SOLUTIONS in the second quarter worth about $174,000. Finally, Trexquant Investment LP bought a new position in NEXEO SOLUTIONS in the second quarter worth about $213,000. Institutional investors and hedge funds own 94.07% of the company’s stock.
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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