Braskem S.A. (NYSE:BAK) Stock Has Average Price Target of $2.83 According to Analysts

Braskem S.A. (NYSE:BAK) has been given a consensus recommendation of “Strong Sell” by the eight research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $2.83.

BAK has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Braskem in a report on Friday, July 17th. UBS Group downgraded shares of Braskem from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.00 to $1.50 in a research note on Tuesday, September 15th. Citigroup cut Braskem from a “neutral” rating to a “sell” rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. downgraded Braskem from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 30th.

Braskem Price Performance

Shares of Braskem stock opened at $1.52 on Friday. The stock has a market capitalization of $607.87 million, a price-to-earnings ratio of -0.63, a price-to-earnings-growth ratio of 0.10 and a beta of 1.56. The business has a 50-day moving average of $2.03 and a 200 day moving average of $3.11. Braskem has a 12 month low of $1.40 and a 12 month high of $5.39.

Braskem (NYSE:BAK) last issued its quarterly earnings results on Friday, June 26th. The company reported $1.61 earnings per share (EPS) for the quarter. The company had revenue of $4.20 billion for the quarter. Braskem had a negative net margin of 7.28% and a negative return on equity of 67.75%. Equities research analysts anticipate that Braskem will post 1.58 earnings per share for the current year.

Institutional Trading of Braskem

A number of hedge funds and other institutional investors have recently bought and sold shares of BAK. Brooklands Fund Management Ltd acquired a new position in shares of Braskem during the 1st quarter worth about $2,013,000. X Square Capital LLC lifted its stake in Braskem by 117.6% during the fourth quarter. X Square Capital LLC now owns 185,000 shares of the company’s stock worth $546,000 after purchasing an additional 100,000 shares during the last quarter. SmartHarvest Portfolios LLC lifted its stake in Braskem by 49.7% during the first quarter. SmartHarvest Portfolios LLC now owns 54,466 shares of the company’s stock worth $199,000 after purchasing an additional 18,085 shares during the last quarter. Bank of America Corp DE boosted its holdings in Braskem by 178,471.4% in the first quarter. Bank of America Corp DE now owns 50,000 shares of the company’s stock valued at $183,000 after purchasing an additional 49,972 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in Braskem by 192.8% in the second quarter. Engineers Gate Manager LP now owns 68,198 shares of the company’s stock valued at $166,000 after purchasing an additional 44,905 shares during the last quarter.

About Braskem

Braskem SA is a Brazilian petrochemical company headquartered in São Paulo. Established in 2002 through the combination of Odebrecht Química and the petrochemical company Copene, Braskem has developed into one of Latin America’s major producers of thermoplastic resins and basic petrochemicals.

The company manufactures polyethylene, polypropylene and polyvinyl chloride (PVC), which are used in packaging, construction, automotive components, consumer goods and other industrial applications.