Nexeo Solutions (NXEO) Stock Rating Reaffirmed by Jefferies Group LLC

Nexeo Solutions (NASDAQ:NXEO)‘s stock had its “hold” rating reiterated by equities research analysts at Jefferies Group LLC in a report issued on Thursday. They currently have a $8.50 target price on the basic materials company’s stock, down from their prior target price of $9.50. Jefferies Group LLC’s price objective suggests a potential upside of 13.18% from the stock’s previous close.

Separately, Zacks Investment Research upgraded shares of Nexeo Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.50.

Shares of Nexeo Solutions (NXEO) opened at 7.51 on Thursday. The firm has a 50-day moving average of $8.20 and a 200-day moving average of $8.82. The firm has a market capitalization of $576.34 million and a PE ratio of 60.56. Nexeo Solutions has a 12-month low of $7.13 and a 12-month high of $9.94.

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In related news, major shareholder Park West Asset Management Llc sold 204,766 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $8.19, for a total value of $1,677,033.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Waldorf Astor III purchased 10,850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $9.05 per share, with a total value of $98,192.50. Following the completion of the purchase, the director now owns 31,603 shares in the company, valued at $286,007.15. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 2,322,562 shares of company stock valued at $18,992,522. 0.07% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Nexeo Solutions by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,814,769 shares of the basic materials company’s stock valued at $15,063,000 after buying an additional 73,726 shares during the last quarter. Northern Trust Corp increased its stake in shares of Nexeo Solutions by 181.9% in the second quarter. Northern Trust Corp now owns 352,317 shares of the basic materials company’s stock valued at $2,924,000 after buying an additional 227,351 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Nexeo Solutions during the second quarter valued at approximately $232,000. Wittenberg Investment Management Inc. increased its stake in shares of 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 during the period. Finally, Nationwide Fund Advisors purchased a new stake in shares of Nexeo Solutions during the second quarter valued at approximately $121,000. Institutional investors own 84.03% 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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