Zacks Investment Research upgraded shares of Univar Inc. (NYSE:UNVR) from a hold rating to a strong-buy rating in a report published on Wednesday morning. The brokerage currently has $25.00 target price on the stock.
According to Zacks, “Univar Inc. is a distributor of chemicals and innovative services. The Company offers solvents, resins, pigments, acids, bases, surfactants, glycols, inorganic compounds and alcohols. It also offers transportation and warehousing infrastructure, chemicals and hazardous materials handling services. The Company’s operating geographical segments include Univar USA, Univar Canada, Univar Europe and the Middle East as well as Rest of World. It serves coatings and adhesives, food, oil and gas, personal care and pharmaceutical industries. Univar Inc. is headquartered in Downers Grove, Illinois. “
Several other equities analysts have also recently weighed in on UNVR. Wells Fargo & Co. restated a hold rating on shares of Univar in a report on Sunday, September 4th. Credit Suisse Group AG restated a neutral rating on shares of Univar in a report on Friday, June 17th. Barclays PLC raised their price objective on Univar from $20.00 to $21.00 and gave the company an equal weight rating in a report on Tuesday, August 16th. Bank of America Corp. set a $22.00 price objective on Univar and gave the company a buy rating in a report on Thursday, August 11th. Finally, Jefferies Group assumed coverage on Univar in a report on Friday, September 9th. They issued a buy rating and a $26.00 price objective for the company. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Univar presently has a consensus rating of Buy and an average target price of $22.67.
Univar (NYSE:UNVR) opened at 21.48 on Wednesday. The firm has a 50-day moving average price of $20.87 and a 200 day moving average price of $19.12. The firm has a market cap of $2.96 billion, a PE ratio of 46.90 and a beta of 1.23. Univar has a 12-month low of $10.65 and a 12-month high of $22.76.
Univar (NYSE:UNVR) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.13. Univar had a return on equity of 7.73% and a net margin of 0.75%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the business posted ($0.12) EPS. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Equities research analysts forecast that Univar will post $0.72 EPS for the current year.
In related news, Director Christopher D. Pappas acquired 5,000 shares of the business’s stock in a transaction on Friday, August 12th. The stock was purchased at an average cost of $19.33 per share, for a total transaction of $96,650.00. Following the completion of the transaction, the director now directly owns 55,088 shares of the company’s stock, valued at approximately $1,064,851.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Oversby sold 22,241 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $20.01, for a total transaction of $445,042.41. Following the sale, the insider now owns 108,666 shares of the company’s stock, valued at $2,174,406.66. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.
A number of large investors have recently modified their holdings of the company. California Public Employees Retirement System increased its stake in shares of Univar by 16.2% in the second quarter. California Public Employees Retirement System now owns 38,700 shares of the company’s stock valued at $732,000 after buying an additional 5,400 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Univar during the second quarter worth $11,473,000. Swiss National Bank increased its stake in Univar by 33.1% in the second quarter. Swiss National Bank now owns 81,200 shares of the company’s stock worth $1,535,000 after buying an additional 20,200 shares during the last quarter. California State Teachers Retirement System increased its stake in Univar by 5.8% in the second quarter. California State Teachers Retirement System now owns 90,174 shares of the company’s stock worth $1,705,000 after buying an additional 4,939 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Univar by 7.5% in the second quarter. Bank of New York Mellon Corp now owns 133,692 shares of the company’s stock worth $2,529,000 after buying an additional 9,299 shares during the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.
Univar Inc is a distributor of commodity and specialty chemicals. The Company’s segments include Univar USA (USA); Univar Canada (Canada); Univar Europe, the Middle East and Africa (EMEA), and Rest of World. The Rest of World segment includes developing businesses in Latin America, including Brazil and Mexico, and the Asia-Pacific region.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Univar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Univar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.