Synthomer (LON:SYNT) Trading Down 19.1% - Here's What Happened

Key Points

• Synthomer plc's stock price plummeted by 19.1% to GBX 63.75 ($0.85) during trading on Tuesday, with trading volume surging to 3.26 million shares, a 356% increase from average levels.
• Analysts have lowered their price targets for Synthomer, with Deutsche Bank setting a revised target of GBX 115 ($1.53) and Jefferies Financial Group issuing a target of GBX 100 ($1.33), both maintaining a "hold" rating.
• Insider activity includes Janet E. Ashdown, who purchased 19,920 shares at an average price of GBX 99 ($1.32), indicating ongoing confidence from company insiders in the stock.

Synthomer plc (LON:SYNT - Get Free Report)'s share price was down 19.1% on Tuesday . The stock traded as low as GBX 62.30 ($0.84) and last traded at GBX 63.75 ($0.86). Approximately 3,264,514 shares changed hands during trading, an increase of 356% from the average daily volume of 715,140 shares. The stock had previously closed at GBX 78.80 ($1.06).

Analysts Set New Price Targets

A number of brokerages have recently commented on SYNT. Jefferies Financial Group restated a "hold" rating and issued a GBX 100 ($1.34) target price on shares of Synthomer in a research note on Tuesday. Berenberg Bank decreased their target price on Synthomer from GBX 120 ($1.61) to GBX 80 ($1.08) and set a "hold" rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Synthomer from GBX 140 ($1.88) to GBX 115 ($1.55) and set a "hold" rating on the stock in a research report on Wednesday, July 30th.

Synthomer Stock Performance

The stock has a market capitalization of £102.60 million, a PE ratio of -1.25, 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 stock has a fifty day moving average of GBX 98.97 and a 200-day moving average of GBX 109.20.

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

Insider Transactions at Synthomer

In related news, insider Lily Liu purchased 20,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average price of GBX 64 ($0.86) per share, for a total transaction of £12,800 ($17,215.87). Also, insider Janet E. Ashdown bought 19,920 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were acquired at an average price of GBX 99 ($1.33) per share, for a total transaction of £19,720.80 ($26,524.28). Over the last 90 days, insiders have bought 99,149 shares of company stock worth $7,101,965. Corporate insiders own 28.00% 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.