Synthomer (LON:SYNT) Stock Price Down 20.1% Following Analyst Downgrade

Key Points

• Synthomer plc's stock price fell by 20.1% during mid-day trading, reaching a low of GBX 62 ($0.82) after previously closing at GBX 78.80 ($1.05).
• Analysts at Jefferies and Deutsche Bank both maintain a "hold" rating on Synthomer, with revised price targets of GBX 100 ($1.33) and GBX 115 ($1.53) respectively.
• Insider transactions occurred with Janet E. Ashdown and Lily Liu purchasing shares at prices of GBX 99 ($1.32) and GBX 64 ($0.85), indicating insider confidence despite the recent stock decline.

Synthomer plc (LON:SYNT - Get Free Report) shares were down 20.1% during mid-day trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 120 to GBX 80. Berenberg Bank currently has a hold rating on the stock. Synthomer traded as low as GBX 62 ($0.83) and last traded at GBX 63 ($0.85). Approximately 6,089,601 shares traded hands during mid-day trading, an increase of 730% from the average daily volume of 733,974 shares. The stock had previously closed at GBX 78.80 ($1.06).

A number of other equities research analysts have also recently weighed in on SYNT. Deutsche Bank Aktiengesellschaft dropped their price objective on Synthomer from GBX 140 ($1.88) to GBX 115 ($1.55) and set a "hold" rating for the company in a research note on Wednesday, July 30th. Jefferies Financial Group restated a "hold" rating and set a GBX 100 ($1.34) target price on shares of Synthomer in a research note on Tuesday.

Insider Activity at Synthomer

In related news, insider Jonathan Silver bought 59,229 shares of the stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of GBX 65 ($0.87) per share, for a total transaction of £38,498.85 ($51,780.56). Also, insider Lily Liu purchased 20,000 shares of Synthomer stock in a transaction dated Tuesday, August 5th. The shares were bought at an average price of GBX 64 ($0.86) per share, with a total value of £12,800 ($17,215.87). Insiders have acquired a total of 99,149 shares of company stock worth $7,101,965 over the last three months. 28.00% of the stock is currently owned by corporate insiders.

Synthomer Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.90 and a debt-to-equity ratio of 78.27. The stock has a fifty day moving average price of GBX 98.97 and a two-hundred day moving average price of GBX 109.20. The company has a market capitalization of £102.60 million, a price-to-earnings ratio of -1.25, a PEG ratio of -0.17 and a beta of 1.79.

Synthomer (LON:SYNT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported GBX (5.40) (($0.07)) earnings per share 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 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.3,900 employees across our five innovation centres of excellence and 29 manufacturing sites across Europe, North America, Middle East and Asia.