Synthomer (LON:SYNT) Stock Price Down 9.5% on Analyst Downgrade

Synthomer plc (LON:SYNT) fell 9.5% on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 375 to GBX 340. Berenberg Bank currently has a buy rating on the stock. Synthomer traded as low as GBX 226 ($2.89) and last traded at GBX 226.80 ($2.90). 12,255,630 shares traded hands during mid-day trading, an increase of 2,272% from the average session volume of 516,593 shares. The stock had previously closed at GBX 250.50 ($3.20).

Separately, Jefferies Financial Group upped their target price on Synthomer from GBX 220 ($2.81) to GBX 250 ($3.19) and gave the stock a “hold” rating in a research note on Friday, July 12th.

Synthomer Trading Down 7.7 %

The company’s 50-day moving average is GBX 268.50 and its 200-day moving average is GBX 240.58. The company has a quick ratio of 0.97, a current ratio of 1.95 and a debt-to-equity ratio of 79.72. The stock has a market capitalization of £378.33 million, a price-to-earnings ratio of -195.44, a PEG ratio of -0.17 and a beta of 1.76.

Synthomer Company Profile

Synthomer plc operates as a specialty chemicals company in the United Kingdom and internationally. It operates through five segments: Performance Elastomers, Functional Solutions, Industrial Specialities, Acrylate Monomers, and Adhesive Technologies. The company offers adhesives, including PSA labels, packaging and specialty tapes, saturants, release coatings, wood working, wet glues, hygiene and contact adhesives, packaging and assembly hot melt adhesives; coatings products such as architectural, masonry, intumescent, metal, wood, soil releases, blinders, ink receptive, polyester for powder coatings, SYNTHOMER NX for coalescing agents, and SYNOLOX BEPF for glycol.