Trinseo (NYSE:TSE) Lowered to Sell at Zacks Investment Research
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 equities research analysts have also weighed in on the company. Morgan Stanley lowered Trinseo from an equal weight rating to an underweight rating and reduced their price objective for the stock from $19.00 to $14.00 in a research report on Thursday, May 28th. Deutsche Bank lifted their price target on Trinseo from $21.00 to $24.00 and gave the company a hold rating in a research note on Monday, August 3rd. ValuEngine raised Trinseo from a buy rating to a strong-buy rating in a research note on Tuesday, September 1st. Finally, Jefferies Financial Group reiterated a hold rating on shares of Trinseo in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $24.00.
Trinseo (NYSE:TSE) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported ($2.95) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.54) by ($0.41). The business had revenue of $569.70 million for the quarter, compared to analyst estimates of $599.45 million. Trinseo had a negative return on equity of 10.14% and a negative net margin of 4.22%. The business’s quarterly revenue was down 40.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. Research analysts expect that Trinseo will post -1.71 earnings per share for the current year.
In other news, major shareholder M&G Investment Management Ltd sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $27.22, for a total value of $136,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TSE. Cerebellum GP LLC purchased a new stake in shares of Trinseo during the 2nd quarter worth approximately $36,000. Malaga Cove Capital LLC lifted its position in shares of Trinseo by 1.5% in the second quarter. Malaga Cove Capital LLC now owns 34,319 shares of the basic materials company’s stock valued at $761,000 after acquiring an additional 500 shares in the last quarter. Brinker Capital Inc. lifted its position in shares of Trinseo by 3.2% in the second quarter. Brinker Capital Inc. now owns 17,915 shares of the basic materials company’s stock valued at $397,000 after acquiring an additional 563 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Trinseo by 0.6% during the first quarter. Two Sigma Advisers LP now owns 120,900 shares of the basic materials company’s stock valued at $2,189,000 after acquiring an additional 700 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Trinseo by 0.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 152,258 shares of the basic materials company’s stock worth $2,758,000 after purchasing an additional 851 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.
Trinseo Company Profile
Trinseo SA, a materials company, manufactures and markets synthetic rubber, latex binders, and plastic products in Europe, the United States, the Asia-Pacific, and internationally. The company operates through six segments: Latex Binders, Synthetic Rubber, Performance Plastics, Polystyrene, Feedstocks, and Americas Styrenics.
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