Univar Inc. (UNVR) Downgraded by Zacks Investment Research to “Hold”
Univar Inc. (NYSE:UNVR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Univar Inc. is a distributor of chemicals and innovative services. The Company offers solvents, resins, pigments, acids, bases, surfactants, glycols, inorganic compounds and alcohols. It also offers transportation and warehousing infrastructure, chemicals and hazardous materials handling services. The Company’s operating geographical segments include Univar USA, Univar Canada, Univar Europe and the Middle East as well as Rest of World. It serves coatings and adhesives, food, oil and gas, personal care and pharmaceutical industries. Univar Inc. is headquartered in Downers Grove, Illinois. “
A number of other brokerages have also recently weighed in on UNVR. Jefferies Group LLC restated a “buy” rating and issued a $39.00 price objective (up previously from $36.00) on shares of Univar in a report on Wednesday, May 17th. BidaskClub upgraded shares of Univar from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Barclays PLC upped their price objective on shares of Univar from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Berenberg Bank began coverage on shares of Univar in a report on Thursday, July 6th. They issued a “sell” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.29.
Univar (UNVR) opened at 28.27 on Thursday. The firm’s 50-day moving average price is $29.77 and its 200-day moving average price is $30.28. The firm’s market cap is $3.96 billion. Univar has a 1-year low of $18.60 and a 1-year high of $33.15.
Univar (NYSE:UNVR) last announced its quarterly earnings data on Friday, August 4th. The basic materials company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Univar had a negative net margin of 0.85% and a positive return on equity of 15.46%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. Equities research analysts anticipate that Univar will post $1.04 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Univar by 20.7% in the first quarter. Vanguard Group Inc. now owns 7,623,144 shares of the basic materials company’s stock worth $233,726,000 after buying an additional 1,307,004 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in Univar by 79.5% in the first quarter. Iridian Asset Management LLC CT now owns 6,913,666 shares of the basic materials company’s stock worth $211,973,000 after buying an additional 3,061,679 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Univar by 54.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,703,921 shares of the basic materials company’s stock worth $205,542,000 after buying an additional 2,370,535 shares during the last quarter. BlackRock Inc. boosted its stake in Univar by 57,750.9% in the first quarter. BlackRock Inc. now owns 3,738,902 shares of the basic materials company’s stock worth $114,636,000 after buying an additional 3,732,439 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Univar by 170.0% in the first quarter. Wells Fargo & Company MN now owns 2,834,610 shares of the basic materials company’s stock worth $86,909,000 after buying an additional 1,784,656 shares during the last quarter. Hedge funds and other institutional investors own 96.70% of the company’s stock.
Univar Inc is a distributor of commodity and specialty chemicals. The Company operates through four segments: Univar USA (USA); Univar Canada (Canada); Univar Europe and the Middle East and Africa (EMEA), and Rest of World. The Company’s USA segment supplies a range of commodity and specialty chemicals, as well as services to a range of end markets, including manufacturing and industrial production sectors in the United States.
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