Covestro (OTCMKTS:COVTY) Stock Rating Upgraded by Barclays

Covestro (OTCMKTS:COVTY - Get Free Report) was upgraded by equities research analysts at Barclays to a "hold" rating in a report released on Wednesday, Zacks.com reports.

Separately, Citigroup raised shares of Covestro to a "hold" rating in a report on Thursday, October 3rd.

Covestro Stock Performance

COVTY traded up $0.09 on Wednesday, reaching $31.87. 2,203 shares of the company traded hands, compared to its average volume of 28,424. The stock's 50 day moving average price is $30.50 and its 200-day moving average price is $28.56. Covestro has a 52-week low of $24.12 and a 52-week high of $32.60.

Covestro (OTCMKTS:COVTY - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter. The business had revenue of $3.97 billion for the quarter. Research analysts expect that Covestro will post 0.03 EPS 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.