Zacks Research Upgrades Basf (OTCMKTS:BASFY) to “Hold”

Basf (OTCMKTS:BASFY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Berenberg Bank upgraded shares of Basf from a “sell” rating to a “hold” rating in a research note on Tuesday, February 17th. DZ Bank raised Basf from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft lowered Basf from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Citigroup restated a “buy” rating on shares of Basf in a research note on Wednesday, February 25th. Finally, Barclays cut Basf from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.

Basf Price Performance

Basf stock opened at $13.51 on Wednesday. Basf has a 12 month low of $10.75 and a 12 month high of $15.60. The business’s fifty day simple moving average is $13.92 and its two-hundred day simple moving average is $13.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.01.

Basf (OTCMKTS:BASFY) last issued its quarterly earnings results on Friday, February 27th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.42). The company had revenue of $16.56 billion for the quarter, compared to the consensus estimate of $14.32 billion. Basf had a net margin of 2.59% and a return on equity of 4.37%. Equities analysts expect that Basf will post 0.83 earnings per share for the current year.

About Basf

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world’s largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF’s activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.