Trinseo S.A. (TSE) PT Lowered to $68.00 at Citigroup Inc.
Trinseo S.A. (NYSE:TSE) had its price target lowered by equities researchers at Citigroup Inc. from $70.00 to $68.00 in a research note issued to investors on Monday. The firm presently has a “neutral” rating on the basic materials company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 6.25% from the company’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 target price for the company in a research report on Friday, July 21st. BidaskClub upgraded Trinseo from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price target on shares of Trinseo in a report on Friday, June 16th. Finally, Barclays PLC decreased their price target on Trinseo from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $76.25.
Shares of Trinseo (TSE) traded down 0.70% during midday trading on Monday, hitting $64.00. The company had a trading volume of 965,189 shares. Trinseo has a one year low of $44.70 and a one year high of $72.60. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 9.07 and a beta of 2.38. The stock’s 50-day moving average price is $68.23 and its 200-day moving average price is $67.12.
Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by $0.41. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.30 earnings per share. Analysts predict that Trinseo will post $7.11 EPS for the current year.
Trinseo announced that its Board of Directors has authorized a share buyback program on Thursday, June 22nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, insider Christopher D. Pappas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $71.04, for a total value of $1,776,000.00. Following the completion of the sale, the insider now directly owns 265,240 shares in the company, valued at approximately $18,842,649.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher D. Pappas sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $67.24, for a total value of $1,344,800.00. Following the completion of the sale, the insider now owns 260,240 shares of the company’s stock, valued at $17,498,537.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,000 shares of company stock valued at $6,138,050. Company insiders own 0.65% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Adams Diversified Equity Fund Inc. boosted its position in shares of Trinseo by 2.6% in the first quarter. Adams Diversified Equity Fund Inc. now owns 16,000 shares of the basic materials company’s stock valued at $1,074,000 after buying an additional 400 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in shares of Trinseo during the first quarter valued at $2,417,000. Hennessy Advisors Inc. acquired a new position in shares of Trinseo during the first quarter valued at $3,778,000. Breton Hill Capital Ltd. boosted its position in shares of Trinseo by 83.4% in the first quarter. Breton Hill Capital Ltd. now owns 31,150 shares of the basic materials company’s stock valued at $2,090,000 after buying an additional 14,169 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Trinseo during the first quarter valued at $402,000.
Trinseo Company Profile
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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