Sinopec Shanghai Petrochemical Co. (NYSE:SHI) has earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a twelve-month consensus price target of $58.36 for the company, according to Zacks. Zacks has also assigned Sinopec Shanghai Petrochemical an industry rank of 90 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised shares of Sinopec Shanghai Petrochemical from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 7th.
Several large investors have recently bought and sold shares of the company. Dorsey Wright & Associates purchased a new stake in Sinopec Shanghai Petrochemical during the second quarter valued at $307,000. Bank of Montreal Can purchased a new stake in Sinopec Shanghai Petrochemical during the second quarter valued at $242,000. BlackRock Institutional Trust Company N.A. raised its stake in Sinopec Shanghai Petrochemical by 8.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 54,194 shares of the company’s stock valued at $2,486,000 after buying an additional 4,331 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Sinopec Shanghai Petrochemical by 10.4% in the second quarter. Parametric Portfolio Associates LLC now owns 29,046 shares of the company’s stock valued at $1,332,000 after buying an additional 2,728 shares during the last quarter. Finally, Oxford Asset Management raised its stake in Sinopec Shanghai Petrochemical by 5.1% in the second quarter. Oxford Asset Management now owns 13,271 shares of the company’s stock valued at $609,000 after buying an additional 642 shares during the last quarter. 0.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sinopec Shanghai Petrochemical (NYSE:SHI) opened at 51.17 on Tuesday. Sinopec Shanghai Petrochemical has a 12-month low of $34.37 and a 12-month high of $53.69. The company has a market capitalization of $5.53 billion, a P/E ratio of 8.00 and a beta of 0.74. The company has a 50 day moving average of $51.27 and a 200-day moving average of $48.95.
About Sinopec Shanghai Petrochemical
Sinopec Shanghai Petrochemical Company Limited is a petrochemical Company. The Company is engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company has five segments: synthetic fibres, resins and plastics, intermediate petrochemicals, petroleum products and trading of petrochemical products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sinopec Shanghai Petrochemical Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinopec Shanghai Petrochemical Co. and related companies with MarketBeat.com's FREE daily email newsletter.