Trinseo (NYSE:TSE) PT Raised to $24.00 at Citigroup

Trinseo (NYSE:TSEGet Rating) had its price objective increased by equities research analysts at Citigroup to $24.00 in a report released on Tuesday, Stock Target Advisor reports. Citigroup’s target price indicates a potential downside of 3.19% from the stock’s previous close.

A number of other research firms also recently issued reports on TSE. StockNews.com assumed coverage on Trinseo in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Barclays upped their target price on Trinseo from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Trinseo from $21.00 to $25.00 and gave the company a “hold” rating in a report on Monday, November 7th. Morgan Stanley reduced their price target on Trinseo from $33.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, October 12th. Finally, TheStreet cut Trinseo from a “c” rating to a “d+” rating in a research note on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

Trinseo Stock Performance

Trinseo stock opened at $24.79 on Tuesday. The firm has a market capitalization of $866.91 million, a P/E ratio of 21.01 and a beta of 1.40. The stock has a fifty day moving average price of $21.41 and a 200 day moving average price of $32.68. Trinseo has a 52 week low of $17.54 and a 52 week high of $59.73. The company has a current ratio of 2.19, a quick ratio of 1.33 and a debt-to-equity ratio of 3.29.

Insider Buying and Selling

In other Trinseo news, Director Jeanmarie F. Desmond acquired 1,335 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was acquired at an average cost of $25.46 per share, with a total value of $33,989.10. Following the acquisition, the director now directly owns 5,665 shares of the company’s stock, valued at approximately $144,230.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Trinseo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSE. Renaissance Technologies LLC boosted its stake in Trinseo by 279.4% during the 3rd quarter. Renaissance Technologies LLC now owns 431,400 shares of the basic materials company’s stock valued at $7,903,000 after purchasing an additional 317,700 shares in the last quarter. Marshall Wace LLP boosted its stake in Trinseo by 1,066.9% during the 3rd quarter. Marshall Wace LLP now owns 331,310 shares of the basic materials company’s stock valued at $6,071,000 after purchasing an additional 302,917 shares in the last quarter. State Street Corp boosted its stake in Trinseo by 7.1% during the 1st quarter. State Street Corp now owns 1,493,866 shares of the basic materials company’s stock valued at $71,586,000 after purchasing an additional 98,697 shares in the last quarter. First Trust Advisors LP bought a new position in Trinseo during the 1st quarter valued at $4,634,000. Finally, Twinbeech Capital LP bought a new position in Trinseo during the 3rd quarter valued at $1,696,000. 97.00% of the stock is owned by institutional investors.

Trinseo Company Profile

(Get Rating)

Trinseo PLC, a materials solutions provider, manufactures and sells plastics and latex binders in the United States, Europe, the Asia-Pacific, and internationally. The company operates through six segments: Engineered Materials, Latex Binders, Base Plastics, Polystyrene, Feedstocks, and Americas Styrenics.

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