Braskem S.A. (NYSE:BAK) Receives Average Recommendation of “Reduce” from Analysts

Shares of Braskem S.A. (NYSE:BAK) have earned an average rating of “Reduce” from the seven analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $3.8667.

BAK has been the topic of a number of research reports. Citigroup upgraded shares of Braskem from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st. Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price target for the company. in a report on Thursday, March 26th.

Institutional Investors Weigh In On Braskem

Institutional investors have recently modified their holdings of the business. UBS Group AG grew its stake in shares of Braskem by 2.6% in the third quarter. UBS Group AG now owns 783,445 shares of the company’s stock valued at $1,896,000 after acquiring an additional 19,956 shares in the last quarter. State Street Corp raised its stake in Braskem by 7.2% in the 4th quarter. State Street Corp now owns 311,507 shares of the company’s stock worth $919,000 after purchasing an additional 20,805 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Braskem by 619.5% in the 4th quarter. Renaissance Technologies LLC now owns 265,488 shares of the company’s stock valued at $783,000 after purchasing an additional 228,588 shares during the period. Jump Financial LLC grew its position in shares of Braskem by 607.1% during the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock worth $865,000 after purchasing an additional 226,467 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Braskem by 193.6% during the 4th quarter. Jane Street Group LLC now owns 220,898 shares of the company’s stock worth $652,000 after purchasing an additional 145,655 shares in the last quarter.

Braskem Trading Up 1.8%

BAK opened at $3.60 on Friday. The stock’s fifty day simple moving average is $3.98 and its 200 day simple moving average is $3.23. Braskem has a 1-year low of $2.32 and a 1-year high of $5.30. The stock has a market cap of $1.43 billion, a PE ratio of -0.78 and a beta of 1.74.

Braskem (NYSE:BAK) last released its quarterly earnings data on Saturday, February 14th. The company reported ($2.33) EPS for the quarter. The company had revenue of $2.56 billion for the quarter. Braskem had a negative return on equity of 21.95% and a negative net margin of 14.53%. Equities analysts forecast that Braskem will post -0.77 earnings per share for the current year.

Braskem Company Profile

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.