COVESTRO AG/S’s (COVTY) Buy Rating Reaffirmed at Societe Generale

Societe Generale reiterated their buy rating on shares of COVESTRO AG/S (OTCMKTS:COVTY) in a research note issued to investors on Tuesday, The Fly reports.

A number of other equities research analysts also recently weighed in on COVTY. Commerzbank raised COVESTRO AG/S from a hold rating to a buy rating in a research note on Friday, September 4th. Main First Bank raised COVESTRO AG/S from a sell rating to a hold rating in a research note on Monday, July 27th. Goldman Sachs Group raised COVESTRO AG/S from a buy rating to a conviction-buy rating in a research note on Wednesday, September 2nd. Credit Suisse Group reaffirmed an outperform rating on shares of COVESTRO AG/S in a research note on Friday, July 24th. Finally, Deutsche Bank reaffirmed a buy rating on shares of COVESTRO AG/S in a research note on Wednesday, August 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. COVESTRO AG/S presently has an average rating of Hold and a consensus price target of $18.00.

COVTY stock traded up $0.18 during trading on Tuesday, hitting $26.05. The stock had a trading volume of 4,390 shares, compared to its average volume of 9,642. COVESTRO AG/S has a 1-year low of $13.18 and a 1-year high of $26.55. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 55.05 and a beta of 1.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.88 and a current ratio of 2.83. The company’s 50 day moving average price is $22.91 and its two-hundred day moving average price is $19.04.

COVESTRO AG/S (OTCMKTS:COVTY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.04. COVESTRO AG/S had a return on equity of 2.85% and a net margin of 1.40%. The firm had revenue of $2.37 billion during the quarter. As a group, sell-side analysts forecast that COVESTRO AG/S will post 0.1 earnings per share for the current fiscal year.

About COVESTRO AG/S

Covestro AG develops, produces, and markets polymer materials for various industries worldwide. The company operates in three segments: Polyurethanes; Polycarbonates; and Coatings, Adhesives, Specialties. The Polyurethanes segment offers precursors, such as flexible polyurethane foam primarily used in the furniture and automotive industries; and rigid foam used as insulating material in the construction industry and in refrigeration chains.

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Analyst Recommendations for COVESTRO AG/S (OTCMKTS:COVTY)

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