Nexeo Solutions (NXEO) Cut to “Sell” at Zacks Investment Research
Nexeo Solutions (NASDAQ:NXEO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
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. “
A number of other analysts have also issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $9.50 price objective on shares of Nexeo Solutions in a research note on Friday, June 16th. Credit Suisse Group dropped 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.
Nexeo Solutions (NXEO) opened at 7.52 on Thursday. Nexeo Solutions has a 12-month low of $6.74 and a 12-month high of $9.94. The firm’s 50-day moving average is $7.28 and its 200 day moving average is $8.22. The firm has a market cap of $670.87 million and a PE ratio of 60.65.
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In related news, major shareholder Select Maple Fund L.P. Fpa purchased 162,190 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $7.30 per share, for a total transaction of $1,183,987.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Park West Asset Management Llc sold 2,000,000 shares of Nexeo Solutions stock in a transaction on Monday, July 31st. The stock was sold at an average price of $8.15, for a total transaction of $16,300,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have bought 807,700 shares of company stock worth $5,802,958 and have sold 2,017,796 shares worth $16,450,488. Company insiders own 0.07% of the company’s stock.
Several large investors have recently modified their holdings of NXEO. Voya Investment Management LLC bought a new stake in shares of Nexeo Solutions in the second quarter worth $106,000. Nationwide Fund Advisors bought a new stake in shares of Nexeo Solutions in the second quarter worth $121,000. Symphony Asset Management LLC increased its stake in shares of 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 buying an additional 815 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Nexeo Solutions in the second quarter worth $174,000. Finally, Trexquant Investment LP bought a new stake in shares of Nexeo Solutions in the second quarter worth $213,000. Institutional investors and hedge funds own 94.07% of the company’s stock.
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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