Univar Inc. (NYSE: UNVR) has not been public that long, and now we have seen more analysts chime in after the company’s first formal earnings report as a public company. For those who do not know Univar, it is a distributor of specialty and basic chemicals from more than 8,000 producers – and it has over 800 distribution facilities throughout North America, Western Europe, the Asia-Pacific region, and Latin America.
This was considered to be a relatively hot IPO at the time.
Univar completed its IPO in June at a price of $22.00 per share. Its underwriters for the IPO exercised in full their option to purchase an additional 5,250,000 shares of common stock from certain stockholders. As a result, some 20,000,000 shares of common stock were sold by the company itself and some 20,250,000 shares were sold by stockholders in the IPO. Univar also completed a concurrent private placement of $350 million of shares of common stock to Dahlia Investments Pte. Ltd., an indirect wholly owned subsidiary of Temasek Holdings.
Here is how the underwriters have issued coverage:
- Deutsche Bank – Hold with a $24.50 target;
- Goldman Sachs – Buy with a $31 target;
- BofA Merrill Lynch – n/a
- Barclays – n/a
- Credit Suisse – Neutral with a $25 target;
- J.P. Morgan – n/a
- Jefferies – Buy with a $29 target;
- Morgan Stanley – n/a
Also, SunTrust Robinson Humphrey started Univar at Neutral with a $27 target. Wells Fargo also assigned a new Market perform rating. William Blair assigned a Market Perform rating.
Univar shares were up 2.25% at $22.63 on Thursday morning. The post-IPO range is $21.41 to $27.75.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.