Braskem S.A. (NYSE:BAK) Receives $4.40 Consensus Price Target from Brokerages

Shares of Braskem S.A. (NYSE:BAK) have been assigned a consensus rating of “Reduce” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $4.40.

Several equities research analysts have recently issued reports on the stock. Citigroup cut shares of Braskem from a “buy” rating to a “hold” rating in a research report on Friday, October 10th. Zacks Research cut shares of Braskem from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Santander cut shares of Braskem from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 16th. UBS Group lowered Braskem from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.10 to $3.80 in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced their target price on Braskem from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 27th.

Braskem Stock Performance

BAK opened at $2.41 on Tuesday. The firm’s fifty day moving average is $2.84 and its 200 day moving average is $3.25. The stock has a market cap of $960.64 million, a price-to-earnings ratio of -0.95 and a beta of 1.81. Braskem has a fifty-two week low of $2.32 and a fifty-two week high of $6.34.

Braskem (NYSE:BAK) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.56. The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $18.76 billion. On average, equities research analysts predict that Braskem will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Braskem

Several large investors have recently bought and sold shares of BAK. Ballentine Partners LLC bought a new position in Braskem during the third quarter valued at $34,000. R Squared Ltd grew its position in Braskem by 55.2% in the first quarter. R Squared Ltd now owns 17,600 shares of the company’s stock worth $68,000 after acquiring an additional 6,260 shares in the last quarter. Virtu Financial LLC bought a new stake in Braskem during the first quarter worth approximately $99,000. Centric Wealth Management purchased a new stake in Braskem during the second quarter valued at approximately $128,000. Finally, Jump Financial LLC lifted its stake in shares of Braskem by 114.4% in the 1st quarter. Jump Financial LLC now owns 37,304 shares of the company’s stock valued at $144,000 after purchasing an additional 19,904 shares during the last quarter.

About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.