Berenberg Bank Issues Pessimistic Forecast for Synthomer (LON:SYNT) Stock Price

Key Points

• Berenberg Bank has reduced its price target for Synthomer (LON:SYNT) from GBX 120 ($1.60) to GBX 80 ($1.07), maintaining a "hold" rating on the stock.
• Other analysts, including Deutsche Bank and Jefferies Financial Group, have also lowered their price targets for Synthomer, with Deutsche Bank setting it at GBX 115 ($1.54) and Jefferies at GBX 100 ($1.34).
• Insider trading activity has increased, with notable purchases of shares by insiders, contributing to a total of 99,149 shares bought in the past 90 days, illustrating confidence in the stock despite recent price adjustments.

Synthomer (LON:SYNT - Free Report) had its price target trimmed by Berenberg Bank from GBX 120 ($1.61) to GBX 80 ($1.08) in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Synthomer from GBX 140 ($1.88) to GBX 115 ($1.55) and set a "hold" rating on the stock in a research note on Wednesday, July 30th. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 100 ($1.34) price target on shares of Synthomer in a report on Tuesday.

Synthomer Stock Down 2.8%

LON SYNT traded down GBX 1.83 ($0.02) on Wednesday, hitting GBX 62.57 ($0.84). 1,219,842 shares of the company were exchanged, compared to its average volume of 759,264. The company has a market cap of £102.60 million, a PE ratio of -1.25, a PEG ratio of -0.17 and a beta of 1.79. Synthomer has a 12 month low of GBX 61 ($0.82) and a 12 month high of GBX 266 ($3.58). The stock has a fifty day moving average of GBX 98.97 and a 200-day moving average of GBX 109.20. The company has a current ratio of 1.90, a quick ratio of 0.97 and a debt-to-equity ratio of 78.27.

Synthomer (LON:SYNT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported GBX (5.40) (($0.07)) EPS for the quarter. Synthomer had a negative net margin of 4.40% and a negative return on equity of 7.52%. As a group, analysts forecast that Synthomer will post 12.962963 earnings per share for the current year.

Insider Transactions at Synthomer

In other news, insider Jonathan Silver acquired 59,229 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of GBX 65 ($0.87) per share, for a total transaction of £38,498.85 ($51,780.56). Also, insider Janet E. Ashdown bought 19,920 shares of Synthomer stock in a transaction on Thursday, July 3rd. The stock was purchased at an average price of GBX 99 ($1.33) per share, with a total value of £19,720.80 ($26,524.28). Over the last ninety days, insiders acquired 99,149 shares of company stock worth $7,101,965. 28.00% of the stock is currently owned by insiders.

Synthomer Company Profile

Synthomer plc is a leading supplier of high-performance, highly specialised polymers and ingredients that play vital roles in key sectors such as coatings, construction, adhesives, and health and protection – growing markets for customers who serve billions of end users worldwide. Headquartered in London, UK and listed on the LSE since 1971, we employ c.3,900 employees across our five innovation centres of excellence and 29 manufacturing sites across Europe, North America, Middle East and Asia.