Synthomer (LON:SYNT) Trading Down 1.5% - Here's What Happened

Key Points

• Synthomer's stock price fell by 1.5% during trading, closing at GBX 78.80 ($1.05) after reaching a low of GBX 78.71 ($1.05).
• Deutsche Bank downgraded Synthomer's price target from GBX 140 to GBX 115 and maintained a "hold" rating, while Jefferies Financial Group also set a "hold" rating with a GBX 100 price objective.
• Company insider Janet E. Ashdown purchased 19,920 shares at an average price of GBX 99 ($1.32), representing a significant investment of £19,720.80 ($26,210.53).

Synthomer plc (LON:SYNT - Get Free Report)'s stock price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as GBX 78.71 ($1.06) and last traded at GBX 78.80 ($1.06). Approximately 514,737 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 698,030 shares. The stock had previously closed at GBX 80 ($1.08).

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Berenberg Bank lowered their target price on Synthomer from GBX 120 ($1.61) to GBX 80 ($1.08) and set a "hold" rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered 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 report on Wednesday, July 30th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 100 ($1.34) target price on shares of Synthomer in a research report on Tuesday.

Synthomer Stock Performance

The company has a current ratio of 1.90, a quick ratio of 0.97 and a debt-to-equity ratio of 78.27. The company has a market cap of £105.60 million, a P/E ratio of -1.29, a PEG ratio of -0.17 and a beta of 1.79. The business's 50 day simple moving average is GBX 99.81 and its 200 day simple moving average is GBX 109.72.

Synthomer (LON:SYNT - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts predict that Synthomer plc will post 12.962963 earnings per share for the current fiscal year.

Insider Activity at Synthomer

In related news, insider Jonathan Silver purchased 59,229 shares of Synthomer 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 ($51,773.60). Also, insider Janet E. Ashdown purchased 19,920 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was bought at an average price of GBX 99 ($1.33) per share, for a total transaction of £19,720.80 ($26,520.71). In the last 90 days, insiders have acquired 99,149 shares of company stock valued at $7,101,965. 28.00% of the stock is owned by company insiders.

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.