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

Synthomer plc (LON:SYNT)’s stock price fell 9.5% during trading 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 were traded during 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 raised their price objective on shares of Synthomer from GBX 220 ($2.81) to GBX 250 ($3.19) and gave the company a “hold” rating in a research report on Friday, July 12th.

Synthomer Stock Performance

The company has a debt-to-equity ratio of 79.72, a current ratio of 1.95 and a quick ratio of 0.97. The stock’s 50 day simple moving average is GBX 268.50 and its two-hundred day simple moving average is GBX 240.58. The stock has a market cap of £378.33 million, a P/E ratio of -195.44, a price-to-earnings-growth ratio of -0.17 and a beta of 1.76.

About Synthomer

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.