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Covestro (OTCMKTS:COVTY - Get Rating) was downgraded by stock analysts at The Goldman Sachs Group from a "conviction-buy" rating to a "buy" rating in a research report issued to clients and investors on Thursday, The Fly reports.
COVTY has been the topic of several other research reports. UBS Group upped their price objective on Covestro from €33.00 ($33.67) to €34.00 ($34.69) and gave the company a "neutral" rating in a research report on Monday, August 15th. Jefferies Financial Group raised Covestro from a "hold" rating to a "buy" rating in a research report on Friday, August 5th. Oddo Bhf downgraded Covestro from an "outperform" rating to a "neutral" rating in a research report on Thursday, August 11th. Societe Generale cut their price objective on Covestro from €56.00 ($57.14) to €45.00 ($45.92) and set a "hold" rating on the stock in a research report on Wednesday, May 4th. Finally, DZ Bank downgraded Covestro from a "buy" rating to a "hold" rating and set a €34.00 ($34.69) price target on the stock. in a research report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $47.31.Covestro Price Performance
Shares of COVTY traded down $0.19 during mid-day trading on Thursday, hitting $14.82. 179,014 shares of the stock were exchanged, compared to its average volume of 120,304. The company has a market cap of $5.73 billion, a PE ratio of 3.67, a price-to-earnings-growth ratio of 0.27 and a beta of 1.21. Covestro has a 52-week low of $14.45 and a 52-week high of $34.97. The firm has a 50-day moving average of $16.52 and a two-hundred day moving average of $21.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.00.
Covestro (OTCMKTS:COVTY - Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter. Covestro had a return on equity of 17.11% and a net margin of 7.77%. The company had revenue of $5.01 billion for the quarter. On average, equities analysts predict that Covestro will post 1.64 earnings per share for the current year. Covestro Company Profile (Get Rating)
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.Further ReadingGet a free copy of the StockNews.com research report on Covestro (COVTY)How will the chip ban affect Nvidia's stock?Is Best Buy A Sneaky Buy for Q4?Does The Bed Bath and Beyond Stock Rally Still Have Legs?Can Alibaba And Baidu Finally Rally With Delisting Fears Gone? 3 Materials Stocks That May Earn a Place on Your Watchlist
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