Brenntag AG (OTCMKTS:BNTGY) Sees Large Decline in Short Interest

Key Points

• Short interest fell 41.4% to 12,781 shares as of July 31, down from 21,822 shares on July 15. Short interest represented approximately 0.0% of shares outstanding, with a short-interest ratio of 0.2 days.
• Brenntag reported quarterly earnings of $0.29 per share, exceeding the $0.25 consensus estimate, while revenue of $4.96 billion also surpassed expectations of $4.66 billion.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and one rates it Sell, producing a consensus rating of “Reduce” and an average price target of $12.80.

Brenntag AG (OTCMKTS:BNTGY - Get Free Report) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 12,781 shares, a decline of 41.4% from the July 15th total of 21,822 shares. Based on an average daily volume of 52,119 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Brenntag Stock Performance

Brenntag stock opened at $14.15 on Monday. The stock has a 50-day moving average price of $13.24 and a two-hundred day moving average price of $13.08. Brenntag has a 12 month low of $10.19 and a 12 month high of $14.97. The company has a market capitalization of $10.21 billion, a PE ratio of 23.98 and a beta of 0.62.

Brenntag (OTCMKTS:BNTGY - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.66 billion. Brenntag had a return on equity of 8.34% and a net margin of 2.41%. As a group, analysts predict that Brenntag will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on BNTGY. Deutsche Bank Aktiengesellschaft cut Brenntag from a "buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Morgan Stanley reissued an "underweight" rating on shares of Brenntag in a report on Friday. UBS Group upgraded Brenntag from a "sell" rating to a "neutral" rating in a research report on Thursday, April 30th. Jefferies Financial Group upgraded Brenntag from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, May 20th. Finally, DZ Bank raised Brenntag from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $12.80.

Brenntag Company Profile

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.

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