Nexeo Solutions (NASDAQ:NXEO)‘s stock had its “buy” rating reissued by equities researchers at SunTrust Banks, Inc. in a research report issued on Friday. They currently have a $11.00 price objective on the basic materials company’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 42.49% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “hold” rating and set a $8.50 price objective (down previously from $9.50) on shares of Nexeo Solutions in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Nexeo Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. Credit Suisse Group decreased their price objective on shares of Nexeo Solutions from $10.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 11th. Finally, ValuEngine upgraded shares of Nexeo Solutions from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Nexeo Solutions has an average rating of “Hold” and a consensus price target of $9.33.
Shares of Nexeo Solutions (NXEO) traded down $0.07 during midday trading on Friday, reaching $7.72. 55,400 shares of the company were exchanged, compared to its average volume of 146,917. The firm has a market capitalization of $695.85 and a PE ratio of 19.97. The company has a debt-to-equity ratio of -96.10, a quick ratio of 1.35 and a current ratio of 2.14. Nexeo Solutions has a 52-week low of $6.74 and a 52-week high of $9.94.
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In related news, major shareholder Select Fund Ii L.P. Fpa purchased 18,700 shares of Nexeo Solutions stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $7.13 per share, for a total transaction of $133,331.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Bradley purchased 80,000 shares of Nexeo Solutions stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $7.39 per share, with a total value of $591,200.00. Following the acquisition, the insider now directly owns 135,000 shares of the company’s stock, valued at $997,650. The disclosure for this purchase can be found here. Insiders bought 807,700 shares of company stock valued at $5,802,958 in the last quarter. Corporate insiders own 0.07% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Symphony Asset Management LLC boosted 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 last quarter. Steinberg Global Asset Management boosted its holdings in Nexeo Solutions by 3.7% during the second quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock worth $230,000 after purchasing an additional 1,000 shares during the last quarter. Wittenberg Investment Management Inc. boosted its holdings in Nexeo Solutions by 2.8% during the second quarter. Wittenberg Investment Management Inc. now owns 73,511 shares of the basic materials company’s stock worth $610,000 after purchasing an additional 2,002 shares during the last quarter. Voya Investment Management LLC acquired a new position in Nexeo Solutions during the second quarter worth $106,000. Finally, Nationwide Fund Advisors acquired a new position in Nexeo Solutions during the second quarter worth $121,000. Institutional investors own 94.05% 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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