COVESTRO AG/S (OTCMKTS:COVTY) Cut to Reduce at HSBC

COVESTRO AG/S (OTCMKTS:COVTY) was downgraded by equities researchers at HSBC from a “hold” rating to a “reduce” rating in a research note issued on Tuesday, The Fly reports.

Several other research analysts have also weighed in on the stock. ValuEngine upgraded shares of COVESTRO AG/S from a “hold” rating to a “buy” rating in a report on Monday. Citigroup lowered shares of COVESTRO AG/S from a “neutral” rating to a “sell” rating in a report on Tuesday, September 10th. Finally, Zacks Investment Research upgraded shares of COVESTRO AG/S from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold”.

Shares of OTCMKTS:COVTY traded down $0.34 on Tuesday, reaching $25.48. 3,008 shares of the company were exchanged, compared to its average volume of 7,549. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 4.56, a price-to-earnings-growth ratio of 4.43 and a beta of 1.77. COVESTRO AG/S has a 1-year low of $20.90 and a 1-year high of $33.84. The company has a current ratio of 2.02, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $24.92 and a 200-day moving average of $24.12.

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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