Basf (OTCMKTS:BASFY) Cut to Hold at DZ Bank

DZ Bank downgraded shares of Basf (OTCMKTS:BASFY) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Several other brokerages also recently weighed in on BASFY. Citigroup started coverage on Basf in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Berenberg Bank lowered shares of Basf from a “hold” rating to a “sell” rating in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft cut shares of Basf from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Zacks Research upgraded shares of Basf from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Basf Trading Down 0.8%

OTCMKTS BASFY opened at $13.71 on Monday. The firm has a market cap of $49.34 billion, a PE ratio of 137.11 and a beta of 0.83. Basf has a 1-year low of $10.75 and a 1-year high of $14.76. The stock has a 50-day moving average of $12.97 and a 200-day moving average of $12.83. The company has a current ratio of 1.82, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

About Basf

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world’s largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF’s activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.