Brenntag AG (OTCMKTS:BNTGY) Shares Shorted: Short Interest Down 73.1% in September

Key Points

• Brenntag’s short interest fell 73.1% in September to 2,751 shares, representing essentially 0.0% of shares outstanding and just 0.1 days to cover.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and one rates it Sell, resulting in an average “Reduce” rating and a $12.80 target price.
• Brenntag recently exceeded quarterly expectations, reporting $0.29 EPS versus a $0.25 estimate and $4.96 billion in revenue versus a $4.66 billion consensus forecast.

Brenntag AG (OTCMKTS:BNTGY - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 2,751 shares, a decrease of 73.1% from the August 31st total of 10,215 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 21,540 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

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

Brenntag Price Performance

Shares of OTCMKTS:BNTGY opened at $13.56 on Friday. Brenntag has a 12 month low of $10.19 and a 12 month high of $14.97. The firm has a market capitalization of $9.79 billion, a P/E ratio of 22.98 and a beta of 0.63. The company's fifty day moving average price is $14.02 and its 200 day moving average price is $13.39.

Brenntag (OTCMKTS:BNTGY - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Brenntag had a net margin of 2.41% and a return on equity of 8.30%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.66 billion. On average, sell-side analysts anticipate that Brenntag will post 0.85 EPS for the current year.

Brenntag Company Profile

Brenntag SE is a Germany-based chemical distribution company that supplies industrial and specialty chemicals to customers in a broad range of industries. Its product portfolio includes solvents, acids, gases, solvents, additives, and other chemical raw materials used in sectors such as manufacturing, water treatment, food and nutrition, pharmaceuticals, personal care, agriculture, and energy.

The company operates through two principal business areas: Essentials, which focuses on widely used industrial chemicals, and Specialties, which provides higher-value chemicals and application-specific solutions.

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