Trinseo (NYSE:TSE) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Trinseo (NYSE:TSE) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Alembic Global Advisors reissued a “neutral” rating and issued a $1.00 price objective on shares of Trinseo in a research report on Monday, December 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Trinseo in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Sell” and an average price target of $1.00.

Trinseo Price Performance

Shares of TSE stock traded up $0.01 during midday trading on Tuesday, hitting $0.49. The company had a trading volume of 346,691 shares, compared to its average volume of 1,291,310. Trinseo has a 52-week low of $0.44 and a 52-week high of $5.99. The stock has a market cap of $17.18 million, a price-to-earnings ratio of -0.04 and a beta of 1.45. The company’s 50 day simple moving average is $0.67 and its 200 day simple moving average is $1.72.

Trinseo (NYSE:TSE) last announced 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 analyst estimates of $792.00 million. Analysts anticipate that Trinseo will post -3.88 EPS for the current year.

Hedge Funds Weigh In On Trinseo

A number of hedge funds and other institutional investors have recently modified their holdings of TSE. Police & Firemen s Retirement System of New Jersey acquired a new stake in Trinseo during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. raised its position in Trinseo by 2,181.1% during the third quarter. Russell Investments Group Ltd. now owns 13,276 shares of the basic materials company’s stock valued at $31,000 after buying an additional 12,694 shares during the period. May Hill Capital LLC purchased a new stake in Trinseo in the 2nd quarter worth about $33,000. Sugar Maple Asset Management LLC acquired a new stake in Trinseo during the 2nd quarter worth about $41,000. Finally, Intech Investment Management LLC purchased a new position in Trinseo during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 82.69% of the company’s stock.

About Trinseo

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.