Covestro (OTCMKTS:COVTY) Upgraded to “Hold” by Citigroup

Citigroup upgraded shares of Covestro (OTCMKTS:COVTY) to a hold rating in a research report released on Thursday morning, Zacks.com reports.

Covestro Stock Down 0.5 %

Shares of COVTY traded down $0.15 during trading hours on Thursday, reaching $32.03. 4,132 shares of the stock traded hands, compared to its average volume of 28,911. The company’s 50-day moving average price is $30.27 and its two-hundred day moving average price is $28.39. Covestro has a 52-week low of $24.12 and a 52-week high of $32.60.

Covestro (OTCMKTS:COVTY) last issued its earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter. The company had revenue of $3.97 billion for the quarter. On average, sell-side analysts forecast that Covestro will post 0.03 earnings per share for the current fiscal year.

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.