Nexeo Solutions (NXEO) Raised to Hold at Zacks Investment Research
Nexeo Solutions (NASDAQ:NXEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other research firms have also recently commented on NXEO. Jefferies Group LLC reiterated a “hold” rating and set a $8.50 target price on shares of Nexeo Solutions in a research note on Friday, September 15th. Credit Suisse Group dropped their price target on shares of Nexeo Solutions from $10.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 11th.
Shares of Nexeo Solutions (NXEO) opened at 7.49 on Wednesday. The company has a 50-day moving average of $7.21 and a 200-day moving average of $8.28. The stock has a market capitalization of $668.20 million and a PE ratio of 60.40. Nexeo Solutions has a 12 month low of $6.74 and a 12 month high of $9.94.
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In other news, major shareholder Park West Asset Management Llc sold 10,000 shares of Nexeo Solutions stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $8.43, for a total value of $84,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Select Maple Fund L.P. Fpa bought 162,190 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was purchased at an average price of $7.30 per share, with a total value of $1,183,987.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 807,700 shares of company stock worth $5,802,958 and sold 2,017,796 shares worth $16,450,488. Corporate insiders own 0.07% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Nexeo Solutions by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,814,769 shares of the basic materials company’s stock valued at $15,063,000 after acquiring an additional 73,726 shares in the last quarter. Northern Trust Corp lifted its stake in Nexeo Solutions by 181.9% during the second quarter. Northern Trust Corp now owns 352,317 shares of the basic materials company’s stock worth $2,924,000 after purchasing an additional 227,351 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Nexeo Solutions by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 319,972 shares of the basic materials company’s stock worth $2,656,000 after purchasing an additional 78,087 shares during the period. State Street Corp boosted its holdings in Nexeo Solutions by 497.3% in the second quarter. State Street Corp now owns 319,541 shares of the basic materials company’s stock worth $2,650,000 after purchasing an additional 266,041 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Nexeo Solutions by 41.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 150,756 shares of the basic materials company’s stock worth $1,252,000 after purchasing an additional 44,316 shares during the period. 94.07% of the stock is currently owned by institutional investors and hedge funds.
Nexeo Solutions Company Profile
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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