FY2017 EPS Estimates for NEXEO SOLUTIONS (NXEO) Decreased by SunTrust Banks
NEXEO SOLUTIONS (NASDAQ:NXEO) – Equities research analysts at SunTrust Banks cut their FY2017 earnings per share (EPS) estimates for NEXEO SOLUTIONS in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst J. Sheehan now forecasts that the basic materials company will post earnings per share of $0.18 for the year, down from their previous estimate of $0.22. SunTrust Banks also issued estimates for NEXEO SOLUTIONS’s Q4 2017 earnings at $0.17 EPS.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised NEXEO SOLUTIONS from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and set a $9.50 price objective on shares of NEXEO SOLUTIONS in a research note on Friday, June 16th. Finally, Credit Suisse Group lowered their price objective on NEXEO SOLUTIONS from $10.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 11th.
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NEXEO SOLUTIONS (NASDAQ:NXEO) opened at 7.21 on Thursday. The company has a market capitalization of $643.22 million and a P/E ratio of 58.15. NEXEO SOLUTIONS has a 52-week low of $6.74 and a 52-week high of $9.94. The stock’s 50 day moving average price is $7.80 and its 200-day moving average price is $8.61.
In other news, major shareholder Park West Asset Management Llc sold 100,000 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $8.65, for a total value of $865,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Bradley purchased 80,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $7.39 per share, for a total transaction of $591,200.00. Following the purchase, the insider now owns 135,000 shares in the company, valued at $997,650. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 492,190 shares of company stock worth $3,587,687 and sold 2,322,562 shares worth $18,992,522. Corporate insiders own 0.07% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Steinberg Global Asset Management raised its position in shares of NEXEO SOLUTIONS by 3.7% in the second quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock valued at $230,000 after buying an additional 1,000 shares during the period. Spark Investment Management LLC acquired a new position in shares of NEXEO SOLUTIONS during the second quarter valued at approximately $329,000. Trexquant Investment LP acquired a new position in shares of NEXEO SOLUTIONS during the second quarter valued at approximately $213,000. Northern Trust Corp raised its position in shares of NEXEO SOLUTIONS by 181.9% in the second quarter. Northern Trust Corp now owns 352,317 shares of the basic materials company’s stock valued at $2,924,000 after buying an additional 227,351 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of NEXEO SOLUTIONS during the second quarter valued at approximately $232,000. 94.07% of the stock is currently 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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