Sinopec Shanghai Petrochemical Co. (NYSE:SHI) has been given a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokerages have set a 12 month consensus target price of $71.40 for the company, according to Zacks. Zacks has also given Sinopec Shanghai Petrochemical an industry rank of 32 out of 265 based on the ratings given to related companies.

SHI has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research lowered shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Instinet raised shares of Sinopec Shanghai Petrochemical from a “reduce” rating to a “neutral” rating in a research report on Wednesday, August 9th. Nomura raised shares of Sinopec Shanghai Petrochemical to a “neutral” rating in a research report on Thursday, August 3rd. Finally, Citigroup Inc. lowered shares of Sinopec Shanghai Petrochemical from a “neutral” rating to a “sell” rating in a research report on Thursday, June 1st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC purchased a new position in Sinopec Shanghai Petrochemical during the second quarter worth $147,000. O Shaughnessy Asset Management LLC raised its position in Sinopec Shanghai Petrochemical by 11,439.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the oil and gas company’s stock worth $180,000 after buying an additional 3,203 shares during the last quarter. Citigroup Inc. raised its position in Sinopec Shanghai Petrochemical by 120.1% in the second quarter. Citigroup Inc. now owns 3,423 shares of the oil and gas company’s stock worth $183,000 after buying an additional 1,868 shares during the last quarter. Bank of Montreal Can purchased a new position in Sinopec Shanghai Petrochemical during the first quarter worth $192,000. Finally, Eagle Asset Management Inc. purchased a new position in Sinopec Shanghai Petrochemical during the second quarter worth $202,000. 1.08% of the stock is currently owned by institutional investors.

Shares of Sinopec Shanghai Petrochemical (NYSE:SHI) traded up 2.99% during mid-day trading on Wednesday, hitting $62.61. The company had a trading volume of 13,277 shares. The firm’s 50-day moving average price is $58.22 and its 200 day moving average price is $57.45. Sinopec Shanghai Petrochemical has a one year low of $48.82 and a one year high of $64.80. The company has a market capitalization of $6.80 billion, a P/E ratio of 8.35 and a beta of 0.48.

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Sinopec Shanghai Petrochemical Company Profile

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.

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