Nexeo Solutions (NASDAQ:NXEO) was downgraded by investment analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, The Fly reports.

Separately, Zacks Investment Research lowered shares of Nexeo Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.00.

Nexeo Solutions stock opened at $10.01 on Tuesday. Nexeo Solutions has a fifty-two week low of $6.99 and a fifty-two week high of $11.14. The stock has a market cap of $900.93 million, a P/E ratio of 30.33, a PEG ratio of 0.72 and a beta of 0.39. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.41 and a current ratio of 2.15.

Nexeo Solutions (NASDAQ:NXEO) last announced its quarterly earnings data on Monday, August 6th. The basic materials company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.19 by $0.12. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $994.50 million. Nexeo Solutions had a net margin of 1.45% and a return on equity of 8.13%. research analysts anticipate that Nexeo Solutions will post 0.72 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Nexeo Solutions by 1.9% in 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 purchasing an additional 6,331 shares during the period. Millennium Management LLC raised its position in shares of Nexeo Solutions by 4.2% in the second quarter. Millennium Management LLC now owns 708,639 shares of the basic materials company’s stock valued at $6,470,000 after purchasing an additional 28,296 shares during the period. Zebra Capital Management LLC raised its position in shares of Nexeo Solutions by 324.8% in the second quarter. Zebra Capital Management LLC now owns 71,614 shares of the basic materials company’s stock valued at $654,000 after purchasing an additional 54,757 shares during the period. Renaissance Technologies LLC raised its position in shares of Nexeo Solutions by 16.1% in the second quarter. Renaissance Technologies LLC now owns 982,992 shares of the basic materials company’s stock valued at $8,975,000 after purchasing an additional 136,392 shares during the period. Finally, ClariVest Asset Management LLC bought a new stake in shares of Nexeo Solutions in the second quarter valued at approximately $905,000. 93.73% of the stock is currently owned by institutional investors and hedge funds.

About Nexeo Solutions

Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. The company operates through Chemicals, Plastics, and Environmental Services segments. It provides approximately 22,000 products used in various industries, including household, industrial and institutional, lubricants, architectural coatings, adhesives, sealants, elastomers, automotive, healthcare, personal care, oil and gas, and construction.

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