Zacks Investment Research Lowers Basf (OTCMKTS:BASFY) to Strong Sell

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Basf (OTCMKTS:BASFY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, reports.

According to Zacks, “BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. “

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a report on Tuesday. They issued an “underweight” rating and a $20.48 target price on the stock. HSBC set a €6.90 ($8.02) target price on Deutsche Bank and gave the stock a “neutral” rating in a report on Tuesday. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Goldman Sachs Group upgraded DUFRY AG/ADR to a “hold” rating in a report on Friday, July 5th. Finally, Societe Generale reiterated a “hold” rating on shares of Basf in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold”.

Shares of BASFY traded down $0.18 during trading hours on Tuesday, reaching $16.74. The stock had a trading volume of 165,730 shares, compared to its average volume of 316,198. Basf has a 12 month low of $16.30 and a 12 month high of $24.75. The stock’s 50-day moving average is $17.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market cap of $61.56 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 1.18 and a beta of 1.17.

Basf (OTCMKTS:BASFY) last issued its earnings results on Friday, May 3rd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Basf had a return on equity of 14.01% and a net margin of 6.94%. The company had revenue of $18.37 billion for the quarter. Sell-side analysts expect that Basf will post 1.56 earnings per share for the current fiscal year.

About Basf

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates. The Materials segment offers advanced materials and their precursors for applications and systems, such as isocyanates and polyamides, as well as inorganic basic products and specialties for plastic and plastic processing industries.

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