Covestro (OTC:COVTY) Upgraded to Hold by Barclays

Covestro (OTC:COVTY) was upgraded by equities research analysts at Barclays to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

Separately, Citigroup upgraded shares of Covestro to a “hold” rating in a report on Thursday, October 3rd.

Covestro Stock Performance

Shares of COVTY stock traded down $0.08 during mid-day trading on Wednesday, hitting $31.79. 3,183 shares of the stock traded hands, compared to its average volume of 26,614. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of -34.55 and a beta of 1.18. Covestro has a 52-week low of $24.12 and a 52-week high of $32.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.71.

Covestro Company Profile

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.