Citigroup Inc. Boosts Trinseo S.A. (TSE) Price Target to $70.00
Trinseo S.A. (NYSE:TSE) had its price objective raised by Citigroup Inc. from $67.00 to $70.00 in a report released on Wednesday, July 12th. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Citigroup Inc.’s target price indicates a potential upside of 8.61% from the company’s current price.
Several other equities research analysts have also recently issued reports on TSE. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Trinseo in a research report on Thursday, March 30th. Zacks Investment Research cut shares of Trinseo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, BidaskClub raised shares of Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $76.75.
Shares of Trinseo (NYSE TSE) traded down 1.60% during midday trading on Wednesday, reaching $64.45. 1,414,045 shares of the company’s stock were exchanged. The firm has a market cap of $2.83 billion, a PE ratio of 9.13 and a beta of 2.38. Trinseo has a one year low of $44.70 and a one year high of $72.60. The stock’s 50-day moving average is $68.23 and its 200 day moving average is $67.12.
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. Trinseo had a return on equity of 70.37% and a net margin of 7.88%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $2.30 earnings per share. Trinseo’s revenue was up 18.0% on a year-over-year basis. Analysts anticipate that Trinseo will post $7.49 EPS for the current year.
Trinseo announced that its board has initiated a share 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 a sign that the company’s leadership believes its stock is undervalued.
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In other news, insider Christopher D. Pappas sold 25,000 shares of Trinseo stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $69.49, for a total transaction of $1,737,250.00. Following the sale, the insider now owns 265,240 shares in the company, valued at $18,431,527.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher D. Pappas sold 20,000 shares of Trinseo stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $67.24, for a total transaction of $1,344,800.00. Following the sale, the insider now owns 260,240 shares in the company, valued at approximately $17,498,537.60. The disclosure for this sale can be found here. Insiders have sold 90,000 shares of company stock worth $6,138,050 in the last quarter. Insiders own 0.65% of the company’s stock.
Several hedge funds have recently bought and sold shares of TSE. Daiwa Securities Group Inc. bought a new stake in shares of Trinseo during the second quarter worth about $103,000. Ameritas Investment Partners Inc. bought a new stake in shares of Trinseo during the first quarter worth about $154,000. Ronald Blue & Co. LLC bought a new stake in shares of Trinseo during the first quarter worth about $205,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Trinseo during the first quarter worth about $208,000. Finally, Amalgamated Bank bought a new stake in shares of Trinseo during the first quarter worth about $224,000.
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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