Short Interest in Nexeo Solutions Inc (NXEO) Declines By 36.2%

Nexeo Solutions Inc (NASDAQ:NXEO) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,647,120 shares, a decline of 36.2% from the December 14th total of 2,583,488 shares. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily volume of 910,540 shares, the short-interest ratio is currently 1.8 days.

NXEO stock opened at $9.08 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.35 and a debt-to-equity ratio of 17.50. Nexeo Solutions has a twelve month low of $7.93 and a twelve month high of $12.64. The firm has a market cap of $803.70 million, a price-to-earnings ratio of 12.27, a PEG ratio of 0.30 and a beta of 1.09.

Nexeo Solutions (NASDAQ:NXEO) last posted its quarterly earnings data on Wednesday, December 5th. The basic materials company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05. Nexeo Solutions had a net margin of 0.73% and a return on equity of 9.14%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. As a group, analysts anticipate that Nexeo Solutions will post 0.96 EPS for the current fiscal year.

Several equities research analysts recently weighed in on NXEO shares. SunTrust Banks cut shares of Nexeo Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Nexeo Solutions from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, October 17th. Finally, ValuEngine upgraded shares of Nexeo Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Nexeo Solutions presently has an average rating of “Buy” and an average price target of $12.00.

A number of hedge funds have recently bought and sold shares of NXEO. Rhumbline Advisers increased its position in Nexeo Solutions by 41.0% during the second quarter. Rhumbline Advisers now owns 33,490 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 9,741 shares during the last quarter. Bank of New York Mellon Corp increased its position in Nexeo Solutions by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 343,055 shares of the basic materials company’s stock valued at $3,131,000 after acquiring an additional 6,331 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Nexeo Solutions during the second quarter valued at $175,000. Schwab Charles Investment Management Inc. increased its position in Nexeo Solutions by 18.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 248,990 shares of the basic materials company’s stock valued at $2,274,000 after acquiring an additional 39,531 shares during the last quarter. Finally, Swiss National Bank increased its position in Nexeo Solutions by 20.8% during the second quarter. Swiss National Bank now owns 59,835 shares of the basic materials company’s stock valued at $546,000 after acquiring an additional 10,300 shares during the last quarter. Institutional investors and hedge funds own 98.52% of the company’s stock.

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Nexeo Solutions Company Profile

Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. It operates through Chemicals, Plastics, and Environmental Services segments. The company provides approximately 24,000 products that are used in various industries, including household, industrial and institutional, lubricants, automotive, healthcare, personal care, oil and gas, and construction, as well as performance coatings, including architectural coatings, adhesives, sealants, and elastomers.

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