It May Be Time to Sell Shares of BASF (ETR:BAS) as Credit Suisse Group Has Downgraded The Company


BASF (ETR:BAS) Receives a Downgrade

This morning BASF (ETR:BAS) has been downgraded by Credit Suisse Group to a “Underperform” rating in an analyst note revealed on 10 December. The firm after the upgrade has a EUR 69.00 target shares.

From a total of 15 analysts covering BASF (ETR:BAS) stock, 7 rate it a ”Buy”, 2 a “Sell”, and 12 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is €12 while the lowest target price is €2. The mean of all analyst targets is €4.93 with a 12.68% above today’s (€70.72) stock price. BASF was the topic of 51 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Warburg Research maintained shares on December 9 with “Hold” rating. Baader Wertpapierhandelsbank downgraded shares to “Sell” rating and €63 target share price in a report from an October 28. Credit Suisse downgraded BAS stock in a recent report from November 27 to “Underperform” rating. S&P Research downgraded the rating on October 28. S&P Research has a “Sell” rating and a €65 price target on shares. Finally, JP Morgan downgraded the stock to “Underweight” rating in a report issued on a November 6.

The stock decreased 0.67% or EUR 0.48 on December 9, striking EUR 70.72. Approximately 3.49 million shares of stock traded hands or 20.76% up from the average. BASF SE (ETR:BAS) has declined 68.53% since May 7, 2015 and is downtrending. It has underperformed by 67.73% the S&P500.

 It May Be Time to Sell Shares of BASF (ETR:BAS) as Credit Suisse Group Has Downgraded The Company

The overall sentiment of institutions has increased to 1.22 in Q2 2015. Its up 0.12, from 1.1 in 2015Q2. The ratio improved, as 31 institutions have sold all the shares of BASF SE that they owned while 29 funds have taken shares off the table. 14 funds have purchased shares for the first time while 59 added to their positions. These institutions now hold 47.01 million shares or 15.59% more than the 40.67 million shares they owned in 2015Q2.

The Fund Fine Capital Partners L.P. currently is holding shares equating to 1.37% of its total portfolio in BASF SE representing a total of 4.24 million shares. Another fund,Tph Asset Management Llc, is holding a total of 2.89 million shares equating to 1.33% of their holdings. Additionally, Alphamark Advisors Llc has a 519,264 share stake in BASF SE which represents 0.95% of their total portfolio. The Fund, Lucus Advisors Llc, based out of New York, has also built up a stake in the stock, which represents a total of 0.19% of their total portfolio. Finally Wall Street Associates, a fund which is based in the state of California reported a total holdings of 244,976 shares.

Basf SE is a Germany-based chemical company. The company has a market cap of 66.31 billion EUR.

According to Zacks Investment Research, “Basic Energy Services provides a range of services to America’s oil and gas producers. Its operations span the heartland of domestic onshore production from Texas, Oklahoma, Louisiana and New Mexico to the Rocky Mountain states . Its services support the entire life cycle of a well – from drilling to production and finally – abandonment. They are committed to providing a safe and rewarding workplace, giving its customers the value they expect and doing our part to support a strong and viable oil and gas industry.” Get a free copy of the Zacks research report on BASF SE (BAS).