Trinseo S.A. (NYSE:TSE) Downgraded to Hold at Zacks Investment Research
Trinseo S.A. (NYSE:TSE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 analysts have also weighed in on TSE. Jefferies Group LLC reissued a “buy” rating and set a $82.00 price objective on shares of Trinseo in a report on Friday, June 16th. BidaskClub raised Trinseo from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Citigroup Inc. lifted their price objective on Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Finally, Barclays PLC decreased their price objective on Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Trinseo currently has a consensus rating of “Hold” and a consensus target price of $76.25.
Shares of Trinseo (NYSE:TSE) traded down 2.50% during trading on Tuesday, reaching $62.40. The company had a trading volume of 234,675 shares. The stock has a 50 day moving average price of $68.23 and a 200 day moving average price of $67.12. Trinseo has a 12 month low of $44.70 and a 12 month high of $72.60. The firm has a market capitalization of $2.74 billion, a PE ratio of 8.84 and a beta of 2.38.
Trinseo (NYSE:TSE) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by $0.41. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $2.30 EPS. Trinseo’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts forecast that Trinseo will post $7.11 EPS for the current year.
Trinseo announced that its Board of Directors has authorized a stock buyback 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 buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
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In related news, insider Christopher D. Pappas sold 25,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 265,240 shares of the company’s stock, valued at approximately $18,842,649.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher D. Pappas sold 20,000 shares of the business’s stock in a transaction on 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 directly owns 260,240 shares in the company, valued at approximately $17,498,537.60. The disclosure for this sale can be found here. Insiders have sold a total of 90,000 shares of company stock worth $6,138,050 in the last three months. 0.65% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in TSE. Alps Advisors Inc. raised its stake in shares of Trinseo by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,811 shares of the basic materials company’s stock valued at $468,000 after buying an additional 18 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Trinseo by 2.3% in the second quarter. Teacher Retirement System of Texas now owns 3,613 shares of the basic materials company’s stock valued at $248,000 after buying an additional 81 shares in the last quarter. Ronald Blue & Co. LLC raised its stake in shares of Trinseo by 5.2% in the second quarter. Ronald Blue & Co. LLC now owns 3,206 shares of the basic materials company’s stock valued at $220,000 after buying an additional 158 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Trinseo by 5.6% in the first quarter. Envestnet Asset Management Inc. now owns 4,004 shares of the basic materials company’s stock valued at $269,000 after buying an additional 213 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Trinseo by 0.4% in the first quarter. Teachers Advisors LLC now owns 64,832 shares of the basic materials company’s stock valued at $4,350,000 after buying an additional 245 shares in the last quarter.
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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