Trinseo S.A. (TSE) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Trinseo S.A. (NYSE:TSE) from a sell rating to a hold rating in a research report report published on Thursday.
Several other equities research analysts have also commented on the company. Citigroup Inc. upped their price objective on Trinseo from $67.00 to $70.00 and gave the stock a neutral rating in a research note on Wednesday, July 12th. Deutsche Bank AG restated a buy rating and issued a $74.00 price objective (up from $72.00) on shares of Trinseo in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Trinseo from a hold rating to a strong-buy rating and set a $82.00 price objective for the company in a research note on Friday, July 21st. Jefferies Group LLC restated a buy rating and issued a $82.00 price objective on shares of Trinseo in a research note on Friday, June 16th. Finally, ValuEngine lowered Trinseo from a strong-buy rating to a buy rating in a research note on Monday, August 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Trinseo presently has a consensus rating of Hold and an average target price of $75.80.
Trinseo (NYSE:TSE) opened at 62.95 on Thursday. The company’s 50 day moving average price is $65.84 and its 200-day moving average price is $66.67. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 8.92 and a beta of 2.38. Trinseo has a 12-month low of $44.70 and a 12-month high of $72.60.
Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by $0.41. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Trinseo had a net margin of 5.25% and a return on equity of 44.10%. Trinseo’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.30 earnings per share. On average, equities analysts anticipate that Trinseo will post $6.70 earnings per share for the current fiscal year.
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Trinseo announced that its board has approved 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Christopher D. Pappas sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock valued at $4,858,050 over the last 90 days. 0.65% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. National Asset Management Inc. raised its stake in shares of Trinseo by 9.1% in the second quarter. National Asset Management Inc. now owns 3,857 shares of the basic materials company’s stock worth $265,000 after buying an additional 323 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Trinseo by 69.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,898 shares of the basic materials company’s stock worth $268,000 after buying an additional 1,596 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Trinseo by 46.7% in the second quarter. California State Teachers Retirement System now owns 78,630 shares of the basic materials company’s stock worth $5,402,000 after buying an additional 25,049 shares during the last quarter. TVR Capital Management LP acquired a new stake in shares of Trinseo during the second quarter worth about $2,728,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Trinseo by 61.0% in the second quarter. The Manufacturers Life Insurance Company now owns 34,089 shares of the basic materials company’s stock worth $2,342,000 after buying an additional 12,917 shares during the last quarter. Hedge funds and other institutional investors own 97.55% 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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