Trinseo S.A. (TSE) Downgraded by Zacks Investment Research
Trinseo S.A. (NYSE:TSE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 research firms have also commented on TSE. Jefferies Group LLC restated a “buy” rating and set a $82.00 price target on shares of Trinseo in a research report on Friday, June 16th. Citigroup Inc. lowered their price target on shares of Trinseo from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday. BidaskClub upgraded shares of Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Barclays PLC lowered their price target on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $76.25.
Trinseo (NYSE TSE) traded down 2.89% during mid-day trading on Tuesday, hitting $62.15. 211,127 shares of the stock traded hands. The stock has a 50-day moving average of $68.23 and a 200 day moving average of $67.12. Trinseo has a 1-year low of $44.70 and a 1-year high of $72.60. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 8.80 and a beta of 2.38.
Trinseo (NYSE:TSE) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.80 by $0.41. The firm 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 was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.30 EPS. On average, equities analysts expect that Trinseo will post $7.11 EPS for the current year.
Trinseo announced that its board has authorized a stock repurchase program on Thursday, June 22nd that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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In related news, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $69.49, for a total value of $1,737,250.00. Following the completion of the sale, the insider now owns 265,240 shares of the company’s stock, valued at $18,431,527.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $67.24, for a total transaction of $1,344,800.00. Following the completion of the sale, the insider now directly owns 260,240 shares of the company’s stock, valued at approximately $17,498,537.60. The disclosure for this sale can be found here. Insiders sold 90,000 shares of company stock valued at $6,138,050 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.
A number of large investors have recently bought and sold shares of TSE. Benson Investment Management Company Inc. bought a new stake in Trinseo during the second quarter valued at $1,501,000. Quantitative Systematic Strategies LLC bought a new stake in Trinseo during the first quarter valued at $208,000. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in Trinseo during the first quarter valued at $2,417,000. Hennessy Advisors Inc. bought a new stake in Trinseo during the first quarter valued at $3,778,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Trinseo by 36.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 30,203 shares of the basic materials company’s stock valued at $2,027,000 after buying an additional 8,095 shares during the last quarter.
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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