Sinopec Shanghai Petrochemical (NYSE:SHI) Downgraded by ValuEngine

ValuEngine cut shares of Sinopec Shanghai Petrochemical (NYSE:SHI) from a hold rating to a sell rating in a report released on Tuesday, August 7th.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Sinopec Shanghai Petrochemical from a hold rating to a sell rating in a report on Wednesday, June 6th. HSBC reaffirmed a hold rating on shares of Sinopec Shanghai Petrochemical in a report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Sinopec Shanghai Petrochemical has an average rating of Hold and an average target price of $68.00.

SHI stock traded up $0.61 during midday trading on Tuesday, reaching $58.66. 26,800 shares of the stock were exchanged, compared to its average volume of 38,109. The firm has a market capitalization of $6.37 billion, a P/E ratio of 6.94 and a beta of 0.77. Sinopec Shanghai Petrochemical has a 52 week low of $54.77 and a 52 week high of $74.09.

Sinopec Shanghai Petrochemical (NYSE:SHI) last announced its earnings results on Tuesday, August 21st. The oil and gas company reported $2.54 EPS for the quarter. The firm had revenue of $4.15 billion for the quarter. Sinopec Shanghai Petrochemical had a return on equity of 24.92% and a net margin of 7.01%.

Several large investors have recently made changes to their positions in SHI. Stratos Wealth Partners LTD. acquired a new position in shares of Sinopec Shanghai Petrochemical in the 1st quarter valued at about $117,000. Lester Murray Antman dba SimplyRich acquired a new position in shares of Sinopec Shanghai Petrochemical in the 1st quarter valued at about $204,000. Atria Investments LLC acquired a new position in shares of Sinopec Shanghai Petrochemical in the 2nd quarter valued at about $207,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Sinopec Shanghai Petrochemical in the 1st quarter valued at about $273,000. Finally, Sensato Investors LLC acquired a new position in shares of Sinopec Shanghai Petrochemical in the 2nd quarter valued at about $282,000. 1.90% of the stock is currently owned by institutional investors.

Sinopec Shanghai Petrochemical Company Profile

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. The company operates through five segments: Synthetic Fibres, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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