Nexeo Solutions (NXEO) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Nexeo Solutions (NASDAQ:NXEO) from a sell rating to a hold rating in a research report report published 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. “

Several other research firms have also recently weighed in on NXEO. Jefferies Group restated a hold rating and issued a $8.50 price objective on shares of Nexeo Solutions in a research report on Thursday, October 19th. ValuEngine upgraded shares of Nexeo Solutions from a hold rating to a buy rating in a research report on Friday, October 13th. Finally, SunTrust Banks restated a buy rating and issued a $11.00 price objective on shares of Nexeo Solutions in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $9.33.

Nexeo Solutions (NASDAQ:NXEO) traded up $0.12 on Wednesday, reaching $9.66. 348,375 shares of the company’s stock traded hands, compared to its average volume of 389,900. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 60.15. The firm has a market cap of $866.90, a PE ratio of 50.84, a PEG ratio of 0.76 and a beta of 0.37. Nexeo Solutions has a 52-week low of $6.74 and a 52-week high of $9.94.

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

In other Nexeo Solutions news, insider Brian Herington purchased 50,000 shares of the stock in a transaction dated Tuesday, December 12th. The stock was bought at an average price of $8.35 per share, for a total transaction of $417,500.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Symphony Asset Management LLC boosted its stake in Nexeo Solutions by 4.2% during the 2nd quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 815 shares during the last quarter. Wittenberg Investment Management Inc. lifted its stake in Nexeo Solutions by 2.8% in the second quarter. Wittenberg Investment Management Inc. now owns 73,511 shares of the basic materials company’s stock valued at $610,000 after buying an additional 2,002 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Nexeo Solutions by 7.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 161,949 shares of the basic materials company’s stock valued at $1,183,000 after buying an additional 11,193 shares in the last quarter. Voya Investment Management LLC bought a new position in Nexeo Solutions in the second quarter valued at approximately $106,000. Finally, Nationwide Fund Advisors bought a new position in Nexeo Solutions in the second quarter valued at approximately $121,000. 95.00% of the stock is currently owned by institutional investors and hedge funds.

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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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