SunTrust Banks, Inc. Reiterates “Buy” Rating for Nexeo Solutions (NXEO)

SunTrust Banks, Inc. reaffirmed their buy rating on shares of Nexeo Solutions (NASDAQ:NXEO) in a research report released on Friday. They currently have a $11.00 target price on the basic materials company’s stock.

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Nexeo Solutions from a hold rating to a buy rating in a report on Friday, October 13th. Zacks Investment Research raised shares of Nexeo Solutions from a sell rating to a hold rating in a report on Wednesday, October 4th. Jefferies Group LLC reaffirmed a hold rating and issued a $8.50 price objective on shares of Nexeo Solutions in a report on Friday, September 15th. Finally, Credit Suisse Group decreased their price objective on shares of Nexeo Solutions from $10.00 to $8.50 and set a neutral rating for the company in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $9.33.

Nexeo Solutions (NASDAQ NXEO) opened at $7.66 on Friday. The company has a market cap of $689.59 and a price-to-earnings ratio of 19.80. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of -96.10. Nexeo Solutions has a 1-year low of $6.74 and a 1-year high of $9.94.

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In other news, major shareholder Select Maple Fund L.P. Fpa purchased 162,190 shares of Nexeo Solutions stock in a transaction dated Monday, August 21st. The stock was bought at an average price of $7.30 per share, with a total value of $1,183,987.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Select Fund Ii L.P. Fpa purchased 18,700 shares of Nexeo Solutions stock in a transaction dated Tuesday, September 12th. The shares were purchased at an average cost of $7.13 per share, with a total value of $133,331.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 727,700 shares of company stock valued at $5,211,758. Corporate insiders own 0.07% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC acquired a new position in shares of Nexeo Solutions during the second quarter valued at $106,000. Citadel Advisors LLC bought a new stake in shares of Nexeo Solutions during the third quarter valued at about $117,000. Nationwide Fund Advisors bought a new stake in shares of Nexeo Solutions during the second quarter valued at about $121,000. Symphony Asset Management LLC raised 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 purchasing an additional 815 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Nexeo Solutions during the second quarter valued at about $174,000. 94.01% of the stock is owned by institutional investors.

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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