Covestro (OTCMKTS:COVTY) Stock Rating Lowered by Stifel Nicolaus

Covestro (OTCMKTS:COVTY – Get Rating) was downgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “sell” rating in a note issued to investors on Friday, The Fly reports.

Other equities analysts have also issued reports about the company. Citigroup raised Covestro from a “sell” rating to a “buy” rating in a research note on Wednesday, October 26th. UBS Group lowered their price objective on Covestro from €34.00 ($36.56) to €32.00 ($34.41) and set a “neutral” rating for the company in a research note on Friday, October 7th. Societe Generale lowered their price objective on Covestro from €37.00 ($39.78) to €35.00 ($37.63) and set a “hold” rating for the company in a research note on Monday, October 10th. Credit Suisse Group lowered their price objective on Covestro from €40.00 ($43.01) to €31.00 ($33.33) and set a “neutral” rating for the company in a research note on Friday, September 30th. Finally, HSBC lowered Covestro from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.56.

Covestro Price Performance

Shares of Covestro stock opened at $21.74 on Friday. The stock has a 50 day moving average of $19.67 and a 200 day moving average of $17.34. Covestro has a 12 month low of $13.70 and a 12 month high of $31.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.78 and a quick ratio of 0.87.

Covestro (OTCMKTS:COVTY – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Covestro had a net margin of 5.16% and a return on equity of 11.10%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $3.99 billion. As a group, equities analysts expect that Covestro will post 1.17 EPS for the current fiscal year.

About Covestro

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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.