Trinseo S.A. (TSE) Stock Rating Upgraded by Zacks Investment Research
Trinseo S.A. (NYSE:TSE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $77.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.91% from the stock’s previous close.
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. “
Other equities research analysts have also issued reports about the company. ValuEngine lowered Trinseo from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Trinseo in a research report on Tuesday, August 29th. BidaskClub raised Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reaffirmed a “buy” rating and set a $74.00 target price (up from $72.00) on shares of Trinseo in a research report on Wednesday, August 9th. Finally, Alembic Global Advisors reaffirmed a “buy” rating on shares of Trinseo in a research report on Tuesday, September 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $74.80.
Trinseo (NYSE:TSE) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.80 by ($0.41). Trinseo had a return on equity of 67.05% and a net margin of 7.88%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $2.30 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis.
Trinseo declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 22nd that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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 on Wednesday, August 2nd. The stock was sold at an average price of $71.04, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy M. Stedman sold 5,399 shares of Trinseo stock in a transaction on Friday, September 1st. The shares were sold at an average price of $67.38, for a total value of $363,784.62. Following the transaction, the insider now owns 18,298 shares in the company, valued at approximately $1,232,919.24. The disclosure for this sale can be found here. Insiders have sold 60,399 shares of company stock worth $4,177,335 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of TSE. Daiwa Securities Group Inc. purchased a new position in shares of Trinseo during the second quarter valued at $103,000. Ameritas Investment Partners Inc. purchased a new position in shares of Trinseo during the first quarter valued at $154,000. Royal Bank of Canada grew its holdings in shares of Trinseo by 47.7% during the second quarter. Royal Bank of Canada now owns 2,611 shares of the basic materials company’s stock valued at $179,000 after buying an additional 843 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Trinseo by 10.7% during the second quarter. Citigroup Inc. now owns 2,698 shares of the basic materials company’s stock valued at $185,000 after buying an additional 260 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its holdings in shares of Trinseo by 57.9% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,905 shares of the basic materials company’s stock valued at $200,000 after buying an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.
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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