Nexeo Solutions (NXEO) Upgraded 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 issued 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. “

NXEO has been the subject of a number of other research reports. ValuEngine upgraded Nexeo Solutions from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Jefferies Group reiterated a “hold” rating and set a $8.50 price target on shares of Nexeo Solutions in a report on Thursday, October 19th. Finally, SunTrust Banks reiterated a “buy” rating and set a $11.00 price target on shares of Nexeo Solutions in a report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.33.

Nexeo Solutions (NXEO) opened at $8.95 on Wednesday. The firm has a market capitalization of $796.90, a PE ratio of 47.11, a PEG ratio of 0.94 and a beta of 1.82. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 60.15. Nexeo Solutions has a 1-year low of $6.74 and a 1-year high of $10.13.

Nexeo Solutions (NASDAQ:NXEO) last announced its quarterly earnings data on Wednesday, December 6th. The basic materials company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The company had revenue of $981.70 million during the quarter, compared to analysts’ expectations of $881.70 million. Nexeo Solutions had a return on equity of 20.02% and a net margin of 0.40%. sell-side analysts expect that Nexeo Solutions will post 0.58 earnings per share for the current fiscal year.

In other Nexeo Solutions news, insider Brian Herington purchased 50,000 shares of Nexeo Solutions stock in a transaction that occurred on Tuesday, December 12th. The stock was acquired at an average price of $8.35 per share, for a total transaction of $417,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NXEO. Voya Investment Management LLC bought a new position in Nexeo Solutions during the second quarter worth about $106,000. Citadel Advisors LLC bought a new position in Nexeo Solutions during the third quarter worth about $117,000. Nationwide Fund Advisors bought a new position in Nexeo Solutions during the second quarter worth about $121,000. Symphony Asset Management LLC grew its holdings in Nexeo Solutions by 4.2% during 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 during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Nexeo Solutions during the second quarter worth about $174,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

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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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