Braskem S.A. (NYSE:BAK) Given Average Rating of “Reduce” by Analysts

Braskem S.A. (NYSE:BAK) has earned a consensus recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.40.

Several analysts have weighed in on BAK shares. UBS Group cut 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. JPMorgan Chase & Co. lowered their target price on Braskem from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 27th. Santander cut Braskem from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a report on Wednesday, October 8th. Finally, Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th.

Institutional Investors Weigh In On Braskem

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG lifted its holdings in shares of Braskem by 2.6% during the third quarter. UBS Group AG now owns 783,445 shares of the company’s stock valued at $1,896,000 after purchasing an additional 19,956 shares during the last quarter. Jump Financial LLC grew its stake in shares of Braskem by 607.1% in the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock worth $865,000 after buying an additional 226,467 shares during the last quarter. Graham Capital Management L.P. bought a new position in Braskem during the 1st quarter valued at approximately $532,000. American Century Companies Inc. raised its stake in Braskem by 12.6% during the first quarter. American Century Companies Inc. now owns 110,035 shares of the company’s stock valued at $424,000 after buying an additional 12,300 shares during the last quarter. Finally, Creative Planning raised its stake in Braskem by 145.0% during the third quarter. Creative Planning now owns 56,790 shares of the company’s stock valued at $137,000 after buying an additional 33,614 shares during the last quarter.

Braskem Stock Down 4.9%

NYSE:BAK opened at $2.79 on Wednesday. The firm’s fifty day simple moving average is $2.76 and its 200 day simple moving average is $3.04. The stock has a market cap of $1.11 billion, a P/E ratio of -1.22 and a beta of 1.89. Braskem has a twelve month low of $2.32 and a twelve month high of $5.10.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.46. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts expect that Braskem will post -0.77 EPS for the current fiscal year.

About Braskem

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.