Basf (OTCMKTS:BASFY) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Basf Se (OTCMKTS:BASFY)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.03 and traded as high as $14.8550. Basf shares last traded at $14.77, with a volume of 135,311 shares trading hands.

Wall Street Analyst Weigh In

BASFY has been the topic of several recent analyst reports. Kepler Capital Markets raised shares of Basf from a “hold” rating to a “buy” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Basf in a report on Tuesday, May 5th. Citigroup reiterated a “buy” rating on shares of Basf in a report on Friday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Basf in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Basf Stock Performance

The company’s 50 day moving average price is $14.03 and its 200-day moving average price is $14.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.26 and a current ratio of 1.91. The company has a market cap of $53.19 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73.

Basf (OTCMKTS:BASFY) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. Basf had a return on equity of 5.78% and a net margin of 9.40%.The business had revenue of $19.99 billion for the quarter, compared to the consensus estimate of $18.85 billion. Equities research analysts anticipate that Basf Se will post 0.85 earnings per share for the current fiscal year.

Basf Company Profile

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.