Barclays Reiterates $40.00 Price Target for Trinseo (NYSE:TSE)
Barclays set a $40.00 price objective on Trinseo (NYSE:TSE) in a research note released on Monday morning, TipRanks reports. The brokerage currently has a hold rating on the basic materials company’s stock.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Trinseo from a hold rating to a strong sell rating in a report on Thursday, July 4th. Goldman Sachs Group cut Trinseo from a neutral rating to a sell rating in a report on Wednesday, July 17th. Citigroup downgraded Trinseo from a buy rating to a neutral rating and lowered their price objective for the company from $48.00 to $32.00 in a research report on Tuesday, August 13th. TheStreet lowered Trinseo from a b- rating to a c+ rating in a research note on Friday, May 17th. Finally, ValuEngine raised Trinseo from a hold rating to a buy rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $46.43.
Shares of TSE traded up $1.57 during mid-day trading on Monday, reaching $43.94. The stock had a trading volume of 729,655 shares, compared to its average volume of 443,948. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 6.06, a PEG ratio of 0.83 and a beta of 2.01. Trinseo has a 12 month low of $27.36 and a 12 month high of $82.18. The business has a fifty day moving average of $34.03 and a 200 day moving average of $41.12. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.04 and a current ratio of 2.83.
In related news, insider Frank A. Bozich bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $28.97 per share, for a total transaction of $434,550.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential PLC lifted its stake in Trinseo by 7.4% in the 2nd quarter. Prudential PLC now owns 7,757,914 shares of the basic materials company’s stock worth $325,832,000 after purchasing an additional 536,746 shares in the last quarter. LSV Asset Management increased its holdings in shares of Trinseo by 5.1% in the first quarter. LSV Asset Management now owns 2,470,156 shares of the basic materials company’s stock worth $111,898,000 after purchasing an additional 118,850 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Trinseo by 124.0% in the second quarter. Prudential Financial Inc. now owns 1,199,121 shares of the basic materials company’s stock worth $50,771,000 after purchasing an additional 663,792 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trinseo by 7.1% in the second quarter. JPMorgan Chase & Co. now owns 1,147,764 shares of the basic materials company’s stock worth $48,195,000 after buying an additional 75,983 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Trinseo in the second quarter worth about $27,805,000. Institutional investors own 96.56% 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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