Jefferies Group LLC reaffirmed their hold rating on shares of Nexeo Solutions (NASDAQ:NXEO) in a report published on Friday morning. The firm currently has a $8.50 price objective on the basic materials company’s stock.
A number of other equities research analysts have also recently weighed in on NXEO. Zacks Investment Research cut Nexeo Solutions from a hold rating to a sell rating in a report on Wednesday, July 12th. Credit Suisse Group cut their price target on Nexeo Solutions from $10.00 to $8.50 and set a neutral rating on the stock in a report on Friday, August 11th.
Shares of Nexeo Solutions (NXEO) opened at 7.14 on Friday. Nexeo Solutions has a 12-month low of $6.74 and a 12-month high of $9.94. The company has a 50 day moving average price of $7.43 and a 200-day moving average price of $8.42. The firm has a market cap of $636.97 million and a PE ratio of 57.58.
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In related news, major shareholder Park West Asset Management Llc sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $8.43, for a total transaction of $84,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Select Fund Ii L.P. Fpa acquired 18,700 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $7.13 per share, for a total transaction of $133,331.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 807,700 shares of company stock worth $5,802,958 and have sold 2,222,562 shares worth $18,127,522. 0.07% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NXEO. Voya Investment Management LLC acquired a new position in shares of Nexeo Solutions during the second quarter valued at approximately $106,000. Nationwide Fund Advisors acquired a new position in shares of Nexeo Solutions during the second quarter valued at approximately $121,000. Symphony Asset Management LLC increased its stake in shares of Nexeo Solutions by 4.2% during the second quarter. Symphony Asset Management LLC now owns 20,346 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 815 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Nexeo Solutions during the second quarter valued at approximately $174,000. Finally, Trexquant Investment LP acquired a new position in shares of Nexeo Solutions during the second quarter valued at approximately $213,000. Institutional investors and hedge funds 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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