Zacks Investment Research Lowers Nexeo Solutions (NXEO) to Sell

Zacks Investment Research cut shares of Nexeo Solutions (NASDAQ:NXEO) from a hold rating to a sell rating in a research note published on Friday.

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 equities research analysts have also recently weighed in on the company. Jefferies Group LLC restated a hold rating and set a $9.50 target price on shares of Nexeo Solutions in a report on Friday, June 16th. Credit Suisse Group dropped their target price on Nexeo Solutions from $10.00 to $8.50 and set a neutral rating for the company in a report on Friday, August 11th.

Nexeo Solutions (NASDAQ:NXEO) opened at 7.07 on Friday. Nexeo Solutions has a 1-year low of $6.74 and a 1-year high of $9.94. The company has a 50 day moving average price of $7.64 and a 200-day moving average price of $8.54. The firm has a market capitalization of $630.73 million and a price-to-earnings ratio of 57.02.

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In related news, insider David A. Bradley bought 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $7.39 per share, for a total transaction of $591,200.00. Following the acquisition, the insider now owns 135,000 shares of the company’s stock, valued at $997,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Select Maple Fund L.P. Fpa bought 162,190 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average price of $7.30 per share, with a total value of $1,183,987.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 746,000 shares of company stock valued at $5,364,757 and have sold 2,322,562 shares valued at $18,992,522. 0.07% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Nexeo Solutions by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,814,769 shares of the basic materials company’s stock valued at $15,063,000 after purchasing an additional 73,726 shares during the last quarter. Northern Trust Corp increased its holdings in Nexeo Solutions by 181.9% in the 2nd quarter. Northern Trust Corp now owns 352,317 shares of the basic materials company’s stock valued at $2,924,000 after purchasing an additional 227,351 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Nexeo Solutions by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 319,972 shares of the basic materials company’s stock valued at $2,656,000 after purchasing an additional 78,087 shares during the last quarter. State Street Corp increased its holdings in Nexeo Solutions by 497.3% in the 2nd quarter. State Street Corp now owns 319,541 shares of the basic materials company’s stock valued at $2,650,000 after purchasing an additional 266,041 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Nexeo Solutions by 41.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 150,756 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 44,316 shares during the last quarter. Hedge funds and other institutional investors 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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