Zacks Investment Research Lowers COVESTRO AG/S (OTCMKTS:COVTY) to Sell

Zacks Investment Research cut shares of COVESTRO AG/S (OTCMKTS:COVTY) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Covestro AG manufactures polymers and performance plastics. The Company manufactures, markets and distributes coatings, adhesives, insulating materials, sealants, polycarbonates and polyurethanes. It serves automotive, construction, health, electronics and medical engineering industries. Covestro AG is based in Leverkusen, Germany. “

COVTY has been the topic of several other reports. JPMorgan Chase & Co. lowered shares of COVESTRO AG/S from an overweight rating to a neutral rating in a report on Tuesday, March 24th. Morgan Stanley reissued an overweight rating on shares of COVESTRO AG/S in a report on Monday, March 30th. Bank of America raised shares of COVESTRO AG/S from an underperform rating to a neutral rating in a report on Wednesday, May 20th. Berenberg Bank raised shares of COVESTRO AG/S from a sell rating to a hold rating in a report on Tuesday, March 3rd. Finally, UBS Group reaffirmed a neutral rating on shares of COVESTRO AG/S in a report on Monday, May 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $18.00.

COVTY stock opened at $18.72 on Wednesday. COVESTRO AG/S has a 12 month low of $13.18 and a 12 month high of $26.55. The firm has a market cap of $6.85 billion, a P/E ratio of 6.32 and a beta of 1.42. The company’s 50-day moving average price is $17.81 and its two-hundred day moving average price is $19.39.

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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