UBS Group lowers price target for Covestro (OTCMKTS:COVTY) to €32.00

Covestro (OTCMKTS:COVTY – Get Rating) had its price target reduced by the UBS Group from €34.00 ($34.69) to €32.00 ($32.65) in a research note released Friday to investors, reports The Fly. The brokerage currently has a “neutral” rating on the stock.

Other stock analysts have also recently released reports on the stock. Oddo Bhf downgraded Covestro’s shares from an “outperforming” rating to a “neutral” rating in a Thursday, August 11 research note. Deutsche Bank Aktiengesellschaft cut its price target on Covestro shares from €50.00 ($51.02) to €45.00 ($45.92) and set a “buy” rating for the company in a Wednesday, August 31 research report. Barclays cut its price target on Covestro shares from €71.00 ($72.45) to €60.00 ($61.22) and set an ‘overweight’ rating for the company in a research report Thursday, July 14. Goldman Sachs Group cut Covestro shares from a “buy conviction” rating to a “buy” rating in a research report on Thursday, September 1. Finally, Jefferies Financial Group upgraded Covestro’s shares from a “hold” rating to a “buy” rating in a Friday, Aug. 5 research report. Seven analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, Covestro currently has a consensus rating of “Hold” and an average price target of $45.94.

Performance of Covestro shares

Shares of OTCMKTS:COVTY traded down $0.36 on Friday, hitting $15.31. The company had a trading volume of 61,054 shares, compared to an average volume of 171,822. The company has a current ratio of 1.79, a quick ratio of 0.91 and a debt ratio of 0.28. The stock has a 50-day moving average price of $15.48 and a 200-day moving average price of $19.08. Covestro has a 1-year low of $13.70 and a 1-year high of $34.17. The stock has a market capitalization of $5.92 billion, a price/earnings ratio of 3.79, a P/E/G ratio of 0.30 and a beta of 1.15.

Covestro (OTCMKTS:COVTY – Get Rating) last released its quarterly results on Tuesday, August 2. The company reported EPS of $0.55 for the quarter. Covestro had a net margin of 7.77% and a return on equity of 17.14%. The company had revenue of $5.01 billion for the quarter. Analysts expect Covestro to post 1.54 EPS for the current year.

Covestro Company Profile

(Get a 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), tolylene diisocyanate, long-chain polyols and polycarbonate resins for use in furniture and wood. process, construction, automotive and transportation industries, as well as roof structures, building and refrigerator insulation, mattresses, car seats and other applications.

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Analyst Recommendations for Covestro (OTCMKTS: COVTY)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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