Jefferies Group LLC Reiterates “Buy” Rating for Trinseo S.A. (TSE)
Trinseo S.A. (NYSE:TSE)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research report issued to clients and investors on Tuesday. They presently have a $82.00 target price on the basic materials company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 23.68% from the company’s previous close.
Several other equities analysts have also recently issued reports on TSE. BidaskClub upgraded Trinseo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Citigroup Inc. boosted their price target on Trinseo from $67.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Trinseo from a “hold” rating to a “strong-buy” rating and set a $82.00 price target on the stock in a research report on Friday, July 21st. Barclays PLC dropped their price target on Trinseo from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $74.00 price target (up previously from $72.00) on shares of Trinseo in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $75.80.
Trinseo (TSE) opened at 66.30 on Tuesday. The stock has a 50 day moving average price of $65.84 and a 200 day moving average price of $66.67. Trinseo has a 1-year low of $44.70 and a 1-year high of $72.60. The company has a market cap of $2.90 billion, a P/E ratio of 9.39 and a beta of 2.38.
Trinseo (NYSE:TSE) last issued its quarterly 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. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. Trinseo had a net margin of 7.88% and a return on equity of 67.05%. The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.30 EPS. On average, equities research analysts anticipate that Trinseo will post $6.70 EPS for the current fiscal year.
Trinseo announced that its Board of Directors has authorized a share buyback plan on Thursday, June 22nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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In other Trinseo news, insider Christopher D. Pappas sold 20,000 shares of Trinseo stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $67.24, for a total value of $1,344,800.00. Following the sale, the insider now owns 260,240 shares of the company’s stock, valued at approximately $17,498,537.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Pappas sold 25,000 shares of Trinseo stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $71.04, for a total value of $1,776,000.00. Following the completion of the sale, the insider now directly owns 265,240 shares in the company, valued at approximately $18,842,649.60. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock worth $4,858,050 in the last ninety days. 0.65% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in TSE. Prudential PLC raised its stake in shares of Trinseo by 105.0% in the second quarter. Prudential PLC now owns 2,951,277 shares of the basic materials company’s stock valued at $202,753,000 after buying an additional 1,511,738 shares during the period. BlackRock Inc. raised its stake in shares of Trinseo by 35.5% in the second quarter. BlackRock Inc. now owns 2,917,369 shares of the basic materials company’s stock valued at $200,423,000 after buying an additional 764,901 shares during the period. Vanguard Group Inc. raised its stake in shares of Trinseo by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,267,174 shares of the basic materials company’s stock valued at $155,754,000 after buying an additional 65,208 shares during the period. Renaissance Technologies LLC raised its stake in shares of Trinseo by 19.2% in the first quarter. Renaissance Technologies LLC now owns 1,956,900 shares of the basic materials company’s stock valued at $131,308,000 after buying an additional 315,500 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Trinseo by 6.0% in the second quarter. Alliancebernstein L.P. now owns 1,849,959 shares of the basic materials company’s stock valued at $127,092,000 after buying an additional 103,912 shares during the period. 97.82% of the stock is currently owned by institutional investors.
Trinseo Company Profile
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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