Zacks Investment Research downgraded Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) to Hold in a statement released earlier today.
- Updated: October 14, 2016
Zacks Investment Research has downgraded Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) to Hold in a report released on Saturday October 15, 2016.
On 10/14/2016, Zacks Investment Research released a statement for Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) bumped up the target price from $0.00 to $57.00 that suggested an upside of 0.12%.
Having a price of $50.74, Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI) traded -0.22% lower on the day. With the last stock price close up 3.02% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same time. SHI has recorded a 50-day moving average of $51.03 and a 200-day moving average of $49.14. 2,998 shares of SHI traded, down from an avg. volume of 8,755
With a total market value of $0, Sinopec Shanghai Petrochemical Co. (ADR) has price-earnings ratio of 7.91 with a one year low of $34.37 and a one year high of $53.69 .
A total of 1 equity analyst has released a ratings update on SHI. One equity analyst rating the company a strong buy, zero equity analysts rating the company a buy, zero equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $57.63.
More About Sinopec Shanghai Petrochemical Co. (ADR) (NYSE:SHI)
Sinopec Shanghai Petrochemical Company Limited (Shanghai Petrochemical) is a petrochemical company. The Company and its subsidiaries are principally engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company operates in five operating segments. The synthetic fibres segment produces polyester and acrylic fibers, which are used in the textile and apparel industries. The resins and plastics segment produces polyester chips, polyethylene resins and films, polypropylene resins and polyvinyl alcohol (PVA) granules. The intermediate petrochemicals segment produces p-xylene, benzene and ethylene oxide. The petroleum products segment is equipped with crude oil distillation facilities used to produce vacuum and atmospheric gas oils used as feedstock of the Company's downstream processing facilities. The trading of petrochemical products segment is engaged in importing and exporting of petrochemical products.
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