Trinseo S.A. (TSE) Stock Rating Upgraded by Zacks Investment Research
Trinseo S.A. (NYSE:TSE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $77.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.49% from the stock’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. “
A number of other brokerages have also issued reports on TSE. BidaskClub upgraded shares of Trinseo from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Trinseo in a research note on Friday, October 6th. ValuEngine upgraded shares of Trinseo from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Alembic Global Advisors reiterated a “buy” rating on shares of Trinseo in a research note on Tuesday, September 5th. Finally, Citigroup Inc. increased their price objective on shares of Trinseo from $67.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Trinseo presently has an average rating of “Buy” and a consensus price target of $74.80.
Trinseo (NYSE TSE) traded down 2.28% during mid-day trading on Wednesday, reaching $66.30. The company’s stock had a trading volume of 484,956 shares. The stock has a market capitalization of $2.90 billion, a P/E ratio of 9.36 and a beta of 2.37. The stock’s 50 day moving average price is $67.05 and its 200 day moving average price is $66.12. Trinseo has a 1-year low of $44.70 and a 1-year high of $72.60.
Trinseo (NYSE:TSE) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.41). The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.30 EPS. Analysts expect that Trinseo will post $6.88 EPS for the current fiscal year.
Trinseo announced that its board has authorized a stock repurchase program on Thursday, June 22nd that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In other Trinseo news, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total value of $1,776,000.00. Following the completion of the transaction, the insider now owns 265,240 shares in the company, valued at approximately $18,842,649.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey J. Cote sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $65.01, for a total transaction of $325,050.00. Following the completion of the transaction, the director now owns 15,640 shares of the company’s stock, valued at approximately $1,016,756.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,399 shares of company stock worth $4,177,335. 0.65% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSE. Gerstein Fisher bought a new position in Trinseo in the 3rd quarter worth about $1,170,000. American Century Companies Inc. grew its position in Trinseo by 6.9% in the 4th quarter. American Century Companies Inc. now owns 238,717 shares of the basic materials company’s stock worth $6,732,000 after purchasing an additional 15,491 shares during the last quarter. Oxford Asset Management bought a new position in Trinseo in the 4th quarter worth about $1,760,000. California Public Employees Retirement System grew its position in Trinseo by 7.7% in the 4th quarter. California Public Employees Retirement System now owns 171,300 shares of the basic materials company’s stock worth $4,831,000 after purchasing an additional 12,200 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in Trinseo by 37.1% in the 4th quarter. GSA Capital Partners LLP now owns 59,630 shares of the basic materials company’s stock worth $1,682,000 after purchasing an additional 16,130 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.
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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