Jefferies Group LLC reissued their hold rating on shares of Nexeo Solutions (NASDAQ:NXEO) in a research note released on Thursday. The firm currently has a $8.50 price objective on the basic materials company’s stock.
Several other research firms have also recently weighed in on NXEO. Zacks Investment Research raised Nexeo Solutions from a sell rating to a hold rating in a research report on Wednesday, July 26th. Credit Suisse Group cut their price objective on Nexeo Solutions from $10.00 to $8.50 and set a neutral rating on the stock in a research report on Friday, August 11th. Finally, ValuEngine raised Nexeo Solutions from a hold rating to a buy rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $9.00.
Nexeo Solutions (NASDAQ:NXEO) traded down 0.13% during midday trading on Thursday, reaching $7.54. The company had a trading volume of 108,329 shares. The stock’s 50 day moving average is $7.35 and its 200 day moving average is $8.16. The firm has a market capitalization of $672.66 million and a price-to-earnings ratio of 60.81. Nexeo Solutions has a 12-month low of $6.74 and a 12-month high of $9.94.
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In other Nexeo Solutions news, major shareholder Park West Asset Management Llc sold 7,796 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $8.49, for a total value of $66,188.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Bradley bought 80,000 shares of the stock in a transaction 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 completion of the purchase, the insider now owns 135,000 shares of the company’s stock, valued at $997,650. The disclosure for this purchase can be found here. In the last three months, insiders acquired 807,700 shares of company stock worth $5,802,958. Insiders own 0.07% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Quantitative Systematic Strategies LLC raised its stake in shares of Nexeo Solutions by 110.6% in the third quarter. Quantitative Systematic Strategies LLC now owns 33,431 shares of the basic materials company’s stock valued at $244,000 after buying an additional 17,554 shares during the period. California State Teachers Retirement System bought a new stake in shares of Nexeo Solutions in the second quarter valued at $386,000. The Manufacturers Life Insurance Company bought a new stake in shares of Nexeo Solutions in the second quarter valued at $174,000. State Street Corp raised its stake in shares of Nexeo Solutions by 497.3% in the second quarter. State Street Corp now owns 319,541 shares of the basic materials company’s stock valued at $2,650,000 after buying an additional 266,041 shares during the period. Finally, Voya Investment Management LLC bought a new stake in shares of Nexeo Solutions in the second quarter valued at $106,000. Hedge funds and other institutional investors own 94.07% of the company’s stock.
About Nexeo Solutions
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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