Brenntag (OTCMKTS:BNTGY) Shares Gap Up – Here’s Why

Brenntag AG (OTCMKTS:BNTGY)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $13.75, but opened at $14.20. Brenntag shares last traded at $14.21, with a volume of 447 shares.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating on shares of Brenntag in a research report on Friday, August 14th. DZ Bank upgraded Brenntag from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded Brenntag from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Eight investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.80.

Brenntag Stock Up 0.8%

The firm has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $13.59. The company has a market cap of $10.30 billion, a PE ratio of 24.19 and a beta of 0.62.

Brenntag (OTCMKTS:BNTGY) last announced its earnings results on Wednesday, August 12th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.66 billion. Brenntag had a net margin of 2.41% and a return on equity of 8.30%. As a group, equities analysts anticipate that Brenntag AG will post 0.85 EPS for the current year.

Brenntag Company Profile

Brenntag SE is a Germany-based global distributor of chemicals and ingredients. The company connects chemical manufacturers with industrial and commercial customers, supplying a broad portfolio of basic and specialty chemicals as well as related products and services.

Its activities include sourcing, storage, blending, formulation, packaging and delivery, along with technical support and other supply-chain services. Brenntag serves customers across industries such as manufacturing, water treatment, food and nutrition, pharmaceuticals, personal care, agriculture, energy and environmental services.

Founded in 1874 in Berlin, Brenntag has expanded into an international organization serving markets across Europe, North America, Latin America and the Asia-Pacific region.