Synthomer (LON:SYNT) Trading Down 20.1% on Analyst Downgrade

Key Points

• Synthomer plc shares dropped 20.1% during trading, closing at GBX 63 ($0.84) after reaching a low of GBX 62 ($0.82), with trading volume surging 730% above its average.
• Analysts have adjusted their ratings and price targets, with Deutsche Bank lowering its target from GBX 140 to GBX 115 and Jefferies maintaining a target of GBX 100.
• Insiders Janet E. Ashdown and Lily Liu acquired shares at prices around GBX 99 and GBX 64, respectively, contributing to insiders owning 28% of the company's stock.

Synthomer plc (LON:SYNT - Get Free Report)'s stock price was down 20.1% during 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 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).

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft dropped 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. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 100 ($1.34) price objective on shares of Synthomer in a research report on Tuesday.

Insider Buying and Selling

In related news, insider Jonathan Silver acquired 59,229 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of GBX 65 ($0.87) per share, for a total transaction of £38,498.85 ($51,780.56). Also, insider Janet E. Ashdown acquired 19,920 shares of Synthomer stock in a transaction that occurred on Thursday, July 3rd. The stock was bought at an average cost of GBX 99 ($1.33) per share, with a total value of £19,720.80 ($26,524.28). Insiders acquired 99,149 shares of company stock valued at $7,101,965 in the last three months. 28.00% of the stock is currently owned by corporate insiders.

Synthomer Trading Down 2.8%

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 market capitalization of £102.60 million, a P/E ratio of -1.25, a PEG ratio of -0.17 and a beta of 1.79. The firm's 50-day simple moving average is GBX 98.97 and its 200 day simple moving average is GBX 109.20.

Synthomer (LON:SYNT - Get Free Report) last announced its quarterly earnings data 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 research analysts anticipate that Synthomer plc will post 12.962963 EPS for the current fiscal year.

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.