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

Braskem S.A. (NYSE:BAK) has received a consensus recommendation of “Reduce” from the eight research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.40.

A number of equities analysts recently issued reports on the stock. Zacks Research lowered shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Bank of America lowered shares of Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price target on the stock. in a report on Thursday, March 26th. Citigroup raised shares of Braskem from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. raised shares of Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 price target on the stock in a report on Tuesday, May 12th. Finally, Bradesco Corretora lowered shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price target on the stock. in a report on Tuesday, April 21st.

Institutional Investors Weigh In On Braskem

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 7,003 shares during the period. Quadrant Capital Group LLC increased its holdings in 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 buying an additional 8,832 shares during the period. Signaturefd LLC increased its holdings in 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 buying an additional 4,513 shares during the period. Evergreen Capital Management LLC bought a new stake in Braskem in the 4th quarter valued at $44,000. Finally, Cetera Investment Advisers bought a new stake in shares of Braskem in the 1st quarter worth about $51,000.

Braskem Trading Up 2.0%

Shares of BAK stock opened at $2.99 on Wednesday. Braskem has a 1 year low of $2.32 and a 1 year high of $5.39. The firm’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $3.69. The firm has a market capitalization of $1.19 billion, a P/E ratio of -0.71, a price-to-earnings-growth ratio of 0.06 and a beta of 1.57.

Braskem (NYSE:BAK) last announced its earnings results on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.48. Braskem had a negative net margin of 13.72% and a negative return on equity of 23.17%. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.39 billion. Equities research analysts anticipate that Braskem will post 3.15 EPS for the current fiscal 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.