Covestro (OTCMKTS:COVTY – Get Rating) was downgraded by equities researchers at DZ Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a €34.00 ($35.05) price objective on the stock.
Several other analysts have also issued reports on COVTY. Societe Generale reduced their price target on shares of Covestro from €56.00 ($57.73) to €45.00 ($46.39) and set a “hold” rating on the stock in a research report on Wednesday, May 4th. Barclays dropped their price target on shares of Covestro from €71.00 ($73.20) to €60.00 ($61.86) and set an “overweight” rating for the company in a research note on Thursday, July 14th. UBS Group lowered their target price on shares of Covestro from €43.00 ($44.33) to €42.00 ($43.30) in a research note on Thursday, May 19th. JPMorgan Chase & Co. lowered their target price on shares of Covestro from €62.00 ($63.92) to €58.50 ($60.31) and set a “neutral” rating for the company in a research note on Wednesday, May 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Covestro from €60.00 ($61.86) to €50.00 ($51.55) and set a “buy” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.94.
Covestro Stock Down 0.1 %
Covestro stock opened at $17.00 on Thursday. The stock has a market cap of $6.57 billion, a P/E ratio of 4.21, a P/E/G ratio of 0.25 and a beta of 1.21. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 0.27. Covestro has a twelve month low of $15.64 and a twelve month high of $34.97. The company’s 50-day moving average price is $18.58 and its two-hundred day moving average price is $23.04.
Covestro Company Profile
Covestro AG supplies high-tech polymer materials and related application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.
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