Zacks Investment Research Upgrades Univar Inc. (UNVR) to Buy

Zacks Investment Research upgraded shares of Univar Inc. (NYSE:UNVR) from a hold rating to a buy rating in a report released on Tuesday, August 8th. Zacks Investment Research currently has $34.00 price target on the basic materials company’s 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. “

Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Univar from a hold rating to a sell rating in a research report on Friday, June 16th. Berenberg Bank started coverage on shares of Univar in a report on Thursday, July 6th. They issued a sell rating and a $24.00 target price for the company. Jefferies Group LLC reaffirmed a buy rating and issued a $36.00 target price on shares of Univar in a report on Tuesday, May 2nd. Finally, Barclays PLC raised their price objective on shares of Univar from $33.00 to $34.00 and gave the stock an equal weight rating in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $32.83.

Univar (NYSE UNVR) traded up 0.18% during midday trading on Tuesday, hitting $27.41. The company had a trading volume of 635,787 shares. The company’s market capitalization is $3.85 billion. The stock has a 50 day moving average price of $29.35 and a 200 day moving average price of $30.13. Univar has a 52 week low of $19.13 and a 52 week high of $33.15.

Univar (NYSE:UNVR) last announced its earnings results on Friday, August 4th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Univar had a negative net margin of 0.85% and a positive return on equity of 15.46%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Univar will post $1.00 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd raised its position in Univar by 13.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 8,467 shares of the basic materials company’s stock valued at $247,000 after buying an additional 1,004 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Univar during the second quarter valued at about $1,389,000. Susquehanna International Group LLP increased its stake in Univar by 307.6% in the second quarter. Susquehanna International Group LLP now owns 66,699 shares of the basic materials company’s stock valued at $1,948,000 after buying an additional 50,334 shares during the period. California State Teachers Retirement System increased its stake in Univar by 117.9% in the second quarter. California State Teachers Retirement System now owns 184,493 shares of the basic materials company’s stock valued at $5,387,000 after buying an additional 99,819 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Univar by 3.9% in the second quarter. Cubist Systematic Strategies LLC now owns 45,038 shares of the basic materials company’s stock valued at $1,315,000 after buying an additional 1,685 shares during the period. Institutional investors and hedge funds own 97.30% of the company’s stock.

About Univar

Univar Inc is a distributor of commodity and specialty chemicals. The Company operates through four segments: Univar USA (USA); Univar Canada (Canada); Univar Europe and the Middle East and Africa (EMEA), and Rest of World. The Company’s USA segment supplies a range of commodity and specialty chemicals, as well as services to a range of end markets, including manufacturing and industrial production sectors in the United States.

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