Basf (OTCMKTS:BASFY) Hits New 12-Month High – Here’s Why

Shares of Basf Se (OTCMKTS:BASFY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $15.35 and last traded at $15.3150, with a volume of 153572 shares. The stock had previously closed at $15.14.

Analysts Set New Price Targets

BASFY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Basf from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Berenberg Bank lowered Basf from a “hold” rating to a “sell” rating in a research note on Tuesday, October 14th. DZ Bank downgraded Basf from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Zacks Research downgraded Basf from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, Citigroup started coverage on Basf in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Basf Stock Performance

The stock has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $12.94. The stock has a market cap of $54.68 billion, a P/E ratio of 153.17 and a beta of 0.83. The company has a current ratio of 1.82, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

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.