Zacks Investment Research upgraded shares of Univar Inc. (NYSE:UNVR) from a hold rating to a buy rating in a research report report published on Tuesday morning. The brokerage currently has $34.00 price objective on the basic materials company’s stock.
According to Zacks, “Univar Inc. is a distributor of chemicals and innovative services. The Company offers solvents, resins, pigments, acids, bases, surfactants, glycols, inorganic compounds and alcohols. It also offers transportation and warehousing infrastructure, chemicals and hazardous materials handling services. The Company’s operating geographical segments include Univar USA, Univar Canada, Univar Europe and the Middle East as well as Rest of World. It serves coatings and adhesives, food, oil and gas, personal care and pharmaceutical industries. Univar Inc. is headquartered in Downers Grove, Illinois. “
Several other research analysts also recently issued reports on the company. Barclays PLC lifted their price objective on Univar from $33.00 to $34.00 and gave the stock an equal weight rating in a research report on Monday, August 7th. BidaskClub upgraded Univar from a sell rating to a hold rating in a research report on Thursday, August 3rd. Berenberg Bank assumed coverage on Univar in a research report on Thursday, July 6th. They set a sell rating and a $24.00 price objective for the company. Finally, Jefferies Group LLC restated a buy rating and set a $39.00 price objective (up from $36.00) on shares of Univar in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $32.83.
Shares of Univar (NYSE:UNVR) traded down 1.13% during trading on Tuesday, hitting $27.16. The company’s stock had a trading volume of 1,098,344 shares. Univar has a one year low of $18.60 and a one year high of $33.15. The stock’s market cap is $3.82 billion. The company has a 50-day moving average price of $29.65 and a 200-day moving average price of $30.24.
Univar (NYSE:UNVR) last announced its quarterly earnings results on Friday, August 4th. The basic materials company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.27 billion. Univar had a positive return on equity of 15.46% and a negative net margin of 0.85%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. Equities analysts predict that Univar will post $1.04 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of UNVR. OxFORD Asset Management LLP increased its position in shares of Univar by 665.9% in the second quarter. OxFORD Asset Management LLP now owns 78,976 shares of the basic materials company’s stock valued at $2,306,000 after buying an additional 68,664 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Univar by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 645,190 shares of the basic materials company’s stock valued at $18,839,000 after buying an additional 63,298 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of Univar during the second quarter valued at $907,000. Citadel Advisors LLC increased its position in shares of Univar by 45.0% in the second quarter. Citadel Advisors LLC now owns 65,859 shares of the basic materials company’s stock valued at $1,923,000 after buying an additional 20,446 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Univar by 115.7% in the second quarter. Renaissance Technologies LLC now owns 787,600 shares of the basic materials company’s stock valued at $22,998,000 after buying an additional 422,400 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.
Univar Company Profile
Univar Inc is a distributor of commodity and specialty chemicals. The Company operates through four segments: Univar USA (USA); Univar Canada (Canada); Univar Europe and the Middle East and Africa (EMEA), and Rest of World. The Company’s USA segment supplies a range of commodity and specialty chemicals, as well as services to a range of end markets, including manufacturing and industrial production sectors in the United States.
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