Nexeo Solutions (NXEO) Stock Rating Reaffirmed by Jefferies Group LLC
Nexeo Solutions (NASDAQ:NXEO)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group LLC in a report issued on Thursday. They presently have a $8.50 price target on the basic materials company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 12.73% from the company’s previous close.
Several other brokerages also recently issued reports on NXEO. Zacks Investment Research downgraded shares of Nexeo Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. ValuEngine upgraded shares of Nexeo Solutions from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Finally, Credit Suisse Group lowered their price objective on shares of Nexeo Solutions from $10.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.00.
Nexeo Solutions (NASDAQ NXEO) traded down 0.13% during mid-day trading on Thursday, reaching $7.54. 108,329 shares of the company traded hands. Nexeo Solutions has a 52-week low of $6.74 and a 52-week high of $9.94. The stock has a 50 day moving average price of $7.35 and a 200-day moving average price of $8.16. The company has a market capitalization of $672.66 million and a P/E ratio of 60.81.
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In other Nexeo Solutions news, major shareholder Park West Asset Management Llc sold 7,796 shares of Nexeo Solutions stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $8.49, for a total transaction of $66,188.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Select Maple Fund L.P. Fpa acquired 162,190 shares of the business’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $7.30 per share, with a total value of $1,183,987.00. The disclosure for this purchase can be found here. Insiders have acquired 807,700 shares of company stock worth $5,802,958 in the last quarter. Corporate insiders own 0.07% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantitative Systematic Strategies LLC lifted its holdings in shares of Nexeo Solutions by 110.6% during the third quarter. Quantitative Systematic Strategies LLC now owns 33,431 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 17,554 shares during the period. California State Teachers Retirement System bought a new position in shares of Nexeo Solutions during the second quarter valued at $386,000. The Manufacturers Life Insurance Company bought a new position in shares of Nexeo Solutions during the second quarter valued at $174,000. State Street Corp lifted its holdings in shares of Nexeo Solutions by 497.3% during the second quarter. State Street Corp now owns 319,541 shares of the basic materials company’s stock valued at $2,650,000 after acquiring an additional 266,041 shares during the period. Finally, Voya Investment Management LLC bought a new position in shares of Nexeo Solutions during the second quarter valued at $106,000. 94.07% of the stock is owned by institutional investors.
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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