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, MarketBeat.com 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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Analyst Recommendations for Synthomer (LON:SYNT)

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