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

Key Points

• Synthomer's stock price recently fell below its 200-day moving average, trading as low as GBX 66.10, while its last traded price was GBX 67.96.
• Multiple analysts have issued "hold" ratings on the stock, with Berenberg Bank lowering its target price from GBX 120 to GBX 80.
• Recent insider activity included purchases of a total of 104,229 shares, indicating confidence from company insiders despite the stock's poor performance.

Synthomer plc (LON:SYNT - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 88.19 ($1.18) and traded as low as GBX 66.10 ($0.89). Synthomer shares last traded at GBX 67.96 ($0.91), with a volume of 717,080 shares changing hands.

Wall Street Analyst Weigh In

SYNT has been the topic of a number of recent analyst reports. Berenberg Bank reduced their target price on Synthomer from GBX 120 to GBX 80 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their target price on Synthomer from GBX 140 to GBX 115 and set a "hold" rating on the stock in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a GBX 100 target price on shares of Synthomer in a research note on Tuesday, August 5th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of GBX 98.33.

Synthomer Stock Performance

The stock has a market cap of £110.83 million, a PE ratio of -132.68, a price-to-earnings-growth ratio of -0.17 and a beta of 1.79. 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 firm has a 50 day moving average price of GBX 66.56 and a 200 day moving average price of GBX 88.19.

Synthomer (LON:SYNT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported GBX (5.40) 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, research analysts forecast that Synthomer plc will post 12.962963 earnings per share for the current year.

Insider Activity

In other news, insider Uwe Halder purchased 25,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of GBX 64 per share, for a total transaction of £16,000. Also, insider Jonathan Silver purchased 59,229 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of GBX 65 per share, for a total transaction of £38,498.85. Over the last 90 days, insiders have bought 104,229 shares of company stock worth $6,729,885. Company insiders own 4.99% of the company's stock.

About Synthomer

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.

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