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

Brenntag AG (OTCMKTS:BNTGY) gapped down before the market opened on Wednesday . The stock had previously closed at $11.91, but opened at $10.92. Brenntag shares last traded at $10.91, with a volume of 2,606 shares traded.

Analysts Set New Price Targets

BNTGY has been the subject of a number of recent analyst reports. Morgan Stanley cut shares of Brenntag from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, January 6th. Barclays upgraded Brenntag to a “hold” rating in a report on Thursday, January 15th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Brenntag in a research report on Friday, November 14th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Brenntag presently has a consensus rating of “Reduce” and a consensus target price of $12.80.

Brenntag Stock Performance

The firm’s fifty day moving average price is $12.19 and its 200 day moving average price is $11.83. The firm has a market cap of $7.71 billion, a P/E ratio of 16.69 and a beta of 0.75.

About Brenntag

Brenntag SE, trading on OTCMKTS as BNTGY, is a global market leader in the distribution of chemicals and ingredients. With headquarters in Essen, Germany, the company serves a wide range of industries including coatings and construction, cleaning and water treatment, food and nutrition, pharmaceuticals and personal care, as well as oil and gas. Brenntag operates through two core segments—Essentials and Specialties—offering both standard commodity chemicals and tailored specialty solutions to customers around the world.

Its product portfolio encompasses inorganic and organic chemicals, polymers, petrochemicals and specialty ingredients.