Trinseo S.A. (NYSE:TSE) Lifted to “Strong-Buy” at Zacks Investment Research
Trinseo S.A. (NYSE:TSE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The brokerage presently has a $82.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.89% from the company’s previous close.
According to Zacks, “Trinseo S.A. is a global materials company and manufacturer of plastics, latex and rubber. The Company’s technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Its major products include styrene-butadiene latex, styrene-acrylate latex, solution styrene-butadiene rubber, lithium polybutadiene rubber, emulsion styrene-butadiene rubber, nickel polybutadiene rubber, polystyrene, expandable polystyrene, acrylonitrile-butadiene-styrene, styrene-acrylonitrile, ignition resistant polystyrene, polycarbonate resins, compounds and blends, and polypropylene compounds. Trinseo S.A. is based in Berwyn, Pennsylvania. “
Several other research firms have also recently weighed in on TSE. Citigroup Inc. boosted their price target on Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 12th. BidaskClub upgraded Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Trinseo in a research report on Friday, June 16th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.40.
Trinseo (NYSE:TSE) opened at 70.15 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of 9.10 and a beta of 2.40. Trinseo has a 12-month low of $44.70 and a 12-month high of $72.60. The firm’s 50 day moving average price is $67.37 and its 200-day moving average price is $66.60.
Trinseo (NYSE:TSE) last released its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $2.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.15. Trinseo had a return on equity of 80.69% and a net margin of 9.14%. The company had revenue of $1.10 billion for the quarter. On average, equities analysts anticipate that Trinseo will post $7.63 earnings per share for the current fiscal year.
Trinseo declared that its board has approved a stock repurchase program on Thursday, June 22nd that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In other Trinseo news, insider Christopher D. Pappas sold 15,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $66.28, for a total transaction of $994,200.00. Following the sale, the insider now owns 255,240 shares of the company’s stock, valued at approximately $16,917,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher D. Pappas sold 20,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the sale, the insider now directly owns 260,240 shares in the company, valued at approximately $16,655,360. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $6,657,650 over the last 90 days. 0.65% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in Trinseo during the first quarter worth $154,000. Ronald Blue & Co. LLC purchased a new stake in shares of Trinseo during the first quarter worth approximately $205,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Trinseo during the first quarter worth approximately $208,000. Amalgamated Bank purchased a new stake in shares of Trinseo during the first quarter worth approximately $224,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Trinseo during the first quarter worth approximately $231,000.
Trinseo SA is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The Company’s segments include Latex Binders, Synthetic Rubber, Performance Plastics, Basic Plastics, Feedstocks and Americas Styrenics. The Latex Binders segment produces styrene-butadiene latex (SB latex) and other latex polymers and binders.
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