Zacks Research Downgrades Trinseo (NYSE:TSE) to Strong Sell

Trinseo (NYSE:TSE) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other analysts also recently commented on TSE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Trinseo in a research report on Monday, December 29th. Alembic Global Advisors reiterated a “neutral” rating and issued a $1.00 price objective on shares of Trinseo in a research report on Monday, December 1st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $1.00.

Trinseo Stock Performance

TSE traded up $0.01 on Tuesday, hitting $0.49. 371,916 shares of the company were exchanged, compared to its average volume of 1,296,178. Trinseo has a fifty-two week low of $0.44 and a fifty-two week high of $5.99. The firm has a market capitalization of $17.18 million, a P/E ratio of -0.04 and a beta of 1.45. The business’s fifty day moving average is $0.67 and its 200 day moving average is $1.72.

Trinseo (NYSE:TSE) last posted its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($2.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.96) by ($0.45). The firm had revenue of $743.20 million for the quarter, compared to the consensus estimate of $792.00 million. Analysts forecast that Trinseo will post -3.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Trinseo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Owl Creek Asset Management L.P. lifted its stake in shares of Trinseo by 337.0% during the second quarter. Owl Creek Asset Management L.P. now owns 1,669,952 shares of the basic materials company’s stock valued at $5,210,000 after buying an additional 1,287,854 shares during the period. Icon Advisers Inc. Co. purchased a new stake in Trinseo in the 2nd quarter worth approximately $2,340,000. Geode Capital Management LLC raised its holdings in Trinseo by 105.8% in the 2nd quarter. Geode Capital Management LLC now owns 823,044 shares of the basic materials company’s stock valued at $2,568,000 after acquiring an additional 423,205 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Trinseo by 43.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 343,604 shares of the basic materials company’s stock valued at $1,264,000 after acquiring an additional 103,294 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new position in shares of Trinseo during the 3rd quarter worth $193,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Trinseo Company Profile

Trinseo (NYSE: TSE) is a global materials company specializing in the production of plastics, latex binders, synthetic rubber and specialty polymers. The company’s portfolio includes polystyrene, acrylonitrile-butadiene-styrene (ABS), polycarbonate, styrene-butadiene rubber and various latex products. These materials serve as key components in a wide range of end markets, such as automotive, electronics, appliances, medical devices, consumer goods and paper and board coatings.

Founded in 2010 through the spin-off of certain businesses from The Dow Chemical Company, Trinseo began trading as Styron before adopting its current name in 2012.