The Goldman Sachs Group Upgrades Basf (OTCMKTS:BASFY) to Buy

Basf (OTCMKTS:BASFY) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports.

A number of other brokerages also recently issued reports on BASFY. JPMorgan Chase & Co. started coverage on shares of Basf in a report on Friday, October 11th. They set a “neutral” rating on the stock. UBS Group downgraded shares of Basf from a “buy” rating to a “neutral” rating in a research report on Monday, October 14th. Finally, Citigroup raised Basf to a “hold” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Basf Price Performance

Basf stock opened at $11.24 on Monday. Basf has a 12 month low of $11.02 and a 12 month high of $14.89. The business’s fifty day simple moving average is $12.46 and its two-hundred day simple moving average is $12.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.09 and a quick ratio of 1.23.

Basf (OTCMKTS:BASFY) last issued its earnings results on Wednesday, October 30th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. Basf had a net margin of 0.78% and a return on equity of 6.53%. The business had revenue of $17.30 billion during the quarter. Equities analysts expect that Basf will post 0.9 earnings per share for the current year.

Basf Company Profile

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates. The Materials segment offers advanced materials and their precursors for applications and systems comprising isocyanates, polyamides, and inorganic basic products, as well as specialties for plastics and plastics processing industries.