Trinseo S.A. (NYSE:TSE)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a note issued to investors on Friday, October 6th. They presently have a $82.00 price objective on the basic materials company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 14.93% from the stock’s previous close.
A number of other equities research analysts have also issued reports on TSE. ValuEngine lowered shares of Trinseo from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Trinseo from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Barclays PLC cut their price objective on shares of Trinseo from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. BidaskClub downgraded Trinseo from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Citigroup Inc. lowered their target price on Trinseo from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $74.80.
Shares of Trinseo (NYSE:TSE) opened at 71.35 on Friday. The firm has a 50-day moving average of $67.69 and a 200-day moving average of $66.20. Trinseo has a 12-month low of $44.70 and a 12-month high of $72.60. The company has a market cap of $3.12 billion, a P/E ratio of 10.11 and a beta of 2.37.
Trinseo (NYSE:TSE) last released 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.30 earnings per share. Analysts predict that Trinseo will post $7.14 EPS for the current year.
Trinseo declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 22nd that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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In other Trinseo news, insider Christopher D. Pappas sold 25,000 shares of Trinseo 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 transaction, the insider now owns 265,240 shares in the company, valued at $18,842,649.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey J. Cote sold 5,000 shares of Trinseo stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $65.01, for a total value of $325,050.00. Following the completion of the transaction, the director now owns 15,640 shares in the company, valued at approximately $1,016,756.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,399 shares of company stock worth $4,177,335. Insiders own 0.65% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Prudential PLC grew its stake in shares of Trinseo by 105.0% during the second quarter. Prudential PLC now owns 2,951,277 shares of the basic materials company’s stock worth $202,753,000 after acquiring an additional 1,511,738 shares during the last quarter. BlackRock Inc. grew its stake in shares of Trinseo by 35.5% during the second quarter. BlackRock Inc. now owns 2,917,369 shares of the basic materials company’s stock worth $200,423,000 after acquiring an additional 764,901 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Trinseo by 3.0% during the second quarter. Vanguard Group Inc. now owns 2,267,174 shares of the basic materials company’s stock worth $155,754,000 after acquiring an additional 65,208 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Trinseo by 19.2% during the first quarter. Renaissance Technologies LLC now owns 1,956,900 shares of the basic materials company’s stock worth $131,308,000 after acquiring an additional 315,500 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Trinseo by 6.0% during the second quarter. Alliancebernstein L.P. now owns 1,849,959 shares of the basic materials company’s stock worth $127,092,000 after purchasing an additional 103,912 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.
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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