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

Trinseo (NYSE:TSE) was downgraded by equities researchers at 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.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Trinseo in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Trinseo presently has a consensus rating of “Sell”.

Trinseo Trading Down 13.6%

Trinseo stock opened at $1.56 on Tuesday. Trinseo has a 12-month low of $1.55 and a 12-month high of $6.85. The stock has a market cap of $55.90 million, a P/E ratio of -0.14 and a beta of 1.44. The company has a 50-day moving average price of $2.30 and a 200 day moving average price of $2.83.

Trinseo (NYSE:TSE) last announced its earnings results on Wednesday, August 6th. The basic materials company reported ($2.12) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.63). The business had revenue of $784.30 million for the quarter, compared to the consensus estimate of $966.82 million. As a group, analysts forecast that Trinseo will post -3.88 EPS for the current year.

Insiders Place Their Bets

In related news, Director Matthew Farrell acquired 48,609 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $2.43 per share, with a total value of $118,119.87. Following the completion of the acquisition, the director owned 250,225 shares in the company, valued at $608,046.75. This trade represents a 24.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 100,000 shares of company stock worth $240,028 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trinseo

Institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Trinseo in the 2nd quarter valued at $27,000. May Hill Capital LLC acquired a new position in shares of Trinseo in the 2nd quarter valued at $33,000. Sugar Maple Asset Management LLC acquired a new position in shares of Trinseo in the 2nd quarter valued at $41,000. Intech Investment Management LLC acquired a new position in shares of Trinseo in the 2nd quarter valued at $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Trinseo in the 2nd quarter valued at $58,000. 82.69% of the stock is owned by institutional investors and hedge funds.

Trinseo Company Profile

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.