Braskem (NYSE:BAK) Upgraded at Zacks Research

Zacks Research upgraded shares of Braskem (NYSE:BAK) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st. Citigroup raised shares of Braskem from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Finally, Bank of America cut shares of Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price objective for the company. in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.87.

Braskem Price Performance

Braskem stock opened at $3.66 on Monday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -0.79 and a beta of 1.74. Braskem has a 1 year low of $2.32 and a 1 year high of $5.30. The firm has a 50-day moving average of $3.96 and a two-hundred day moving average of $3.24.

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

Institutional Investors Weigh In On Braskem

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Braskem by 444.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock valued at $25,000 after purchasing an additional 7,003 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Braskem by 222.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after purchasing an additional 8,832 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Braskem by 50.1% in the 4th quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after purchasing an additional 4,513 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Braskem in the 3rd quarter valued at about $34,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Braskem in the 4th quarter valued at about $44,000.

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.