Synthomer (LON:SYNT) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Synthomer shares climbed above their 200-day moving average of GBX 70.08, reaching GBX 100.20 before closing at GBX 99 on heavy trading volume.
• Analyst sentiment remains cautious, with one Buy and four Hold ratings. The consensus price target is GBX 119, ranging from GBX 65 to GBX 200.
• The company reported a quarterly loss of GBX 4.30 per share, alongside a negative net margin of 6.81% and negative return on equity of 13.27%.

Synthomer plc (LON:SYNT - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 70.08 and traded as high as GBX 100.20. Synthomer shares last traded at GBX 99, with a volume of 49,851,078 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYNT. Jefferies Financial Group reiterated a "hold" rating and set a GBX 65 price objective on shares of Synthomer in a research note on Thursday, April 30th. Berenberg Bank upped their price target on shares of Synthomer from GBX 100 to GBX 110 and gave the stock a "hold" rating in a report on Friday, August 7th. Peel Hunt reiterated a "buy" rating and set a GBX 200 price target on shares of Synthomer in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Synthomer from GBX 92 to GBX 100 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Synthomer currently has an average rating of "Hold" and a consensus price target of GBX 119.

Synthomer Price Performance

The business's fifty day moving average price is GBX 92.26 and its 200 day moving average price is GBX 70.08. The company has a debt-to-equity ratio of 97.76, a current ratio of 1.78 and a quick ratio of 0.97. The stock has a market cap of £162.30 million, a P/E ratio of -1.03, a PEG ratio of -0.17 and a beta of 1.03.

Synthomer (LON:SYNT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported GBX (4.30) earnings per share (EPS) for the quarter. Synthomer had a negative net margin of 6.81% and a negative return on equity of 13.27%. Sell-side analysts forecast that Synthomer plc will post 12.962963 EPS for the current fiscal year.

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.3,800 employees across our five innovation centres of excellence and 29 manufacturing sites across Europe, North America, Middle East and Asia.

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