Zacks Investment Research cut shares of Nexeo Solutions (NASDAQ:NXEO) from a buy rating to a hold rating in a report issued on Friday morning.
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. “
Separately, ValuEngine upgraded Nexeo Solutions from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Nexeo Solutions currently has a consensus rating of Hold and a consensus target price of $12.00.
NXEO opened at $10.00 on Friday. Nexeo Solutions has a 52 week low of $7.93 and a 52 week high of $12.64. The firm has a market cap of $846.75 million, a PE ratio of 13.51, a PEG ratio of 0.32 and a beta of 1.10. The company has a quick ratio of 1.52, a current ratio of 2.39 and a debt-to-equity ratio of 17.43.
Nexeo Solutions (NASDAQ:NXEO) last released its quarterly earnings results on Wednesday, December 5th. The basic materials company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. Nexeo Solutions had a return on equity of 12.98% and a net margin of 0.47%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Equities research analysts predict that Nexeo Solutions will post 0.95 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Nexeo Solutions by 68.7% in the fourth quarter. Bank of New York Mellon Corp now owns 225,942 shares of the basic materials company’s stock valued at $1,941,000 after purchasing an additional 92,009 shares during the period. BlackRock Inc. boosted its holdings in Nexeo Solutions by 18.4% in the fourth quarter. BlackRock Inc. now owns 2,631,255 shares of the basic materials company’s stock valued at $22,602,000 after purchasing an additional 408,631 shares during the period. New York State Common Retirement Fund boosted its holdings in Nexeo Solutions by 29.6% in the fourth quarter. New York State Common Retirement Fund now owns 36,300 shares of the basic materials company’s stock valued at $312,000 after purchasing an additional 8,300 shares during the period. Polaris Capital Management LLC boosted its holdings in Nexeo Solutions by 21.2% in the fourth quarter. Polaris Capital Management LLC now owns 335,400 shares of the basic materials company’s stock valued at $2,881,000 after purchasing an additional 58,600 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Nexeo Solutions by 18.7% in the fourth quarter. First Trust Advisors LP now owns 103,525 shares of the basic materials company’s stock valued at $889,000 after purchasing an additional 16,290 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.
Nexeo Solutions Company Profile
Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. It operates through Chemicals, Plastics, and Environmental Services segments. The company provides approximately 24,000 products that are used in various industries, including household, industrial and institutional, lubricants, automotive, healthcare, personal care, oil and gas, and construction, as well as performance coatings, including architectural coatings, adhesives, sealants, and elastomers.
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