Synthomer plc (LON:SYNT) Given Average Rating of “Buy” by Brokerages

Shares of Synthomer plc (LON:SYNTGet Rating) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the company, reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is GBX 548.13 ($6.76).

SYNT has been the topic of several analyst reports. Canaccord Genuity Group cut their target price on Synthomer from GBX 750 ($9.25) to GBX 575 ($7.09) and set a “buy” rating on the stock in a research note on Thursday, March 10th. Morgan Stanley reiterated an “underweight” rating and issued a GBX 400 ($4.93) target price on shares of Synthomer in a research note on Wednesday, January 26th. Barclays reiterated an “overweight” rating and issued a GBX 460 ($5.67) target price on shares of Synthomer in a research note on Thursday, March 3rd. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 350 ($4.32) price target on shares of Synthomer in a report on Wednesday, March 23rd.

In other news, insider Holly Van Deursen bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was purchased at an average price of GBX 308 ($3.80) per share, with a total value of £27,720 ($34,175.81). Also, insider Steve Bennett bought 6,314 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were purchased at an average cost of GBX 309 ($3.81) per share, with a total value of £19,510.26 ($24,054.07). Insiders have purchased 238,814 shares of company stock valued at $66,185,526 in the last ninety days.

SYNT opened at GBX 291 ($3.59) on Wednesday. The business’s 50-day moving average is GBX 293.01 and its two-hundred day moving average is GBX 368.40. Synthomer has a 1 year low of GBX 241.80 ($2.98) and a 1 year high of GBX 570.50 ($7.03). The company has a debt-to-equity ratio of 64.18, a current ratio of 1.91 and a quick ratio of 1.43. The firm has a market capitalization of £1.36 billion and a PE ratio of 6.06.

The firm also recently declared a dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st will be issued a GBX 21.30 ($0.26) dividend. This represents a yield of 7.52%. The ex-dividend date is Wednesday, June 1st. This is an increase from Synthomer’s previous dividend of $8.70. Synthomer’s dividend payout ratio (DPR) is currently 0.36%.

About Synthomer (Get Rating)

Synthomer plc operates as a specialty chemicals company. It operates through four segments: Performance Elastomers, Functional Solutions, Industrial Specialities, and Acrylate Monomers. The company offers pressure sensitive adhesives, acrylic polymers, acrylic dispersions, saturants, release coatings, and other adhesives; water-based carboxylated styrene butadiene rubber, redispersible powder, flooring adhesive, and additives for construction applications; and impregnation binders, styrene butadiene copolymers, dispersions, polymer binders, and butadiene-based binders for textiles applications.

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