Braskem (NYSE:BAK) Hits New 1-Year High – Still a Buy?

Shares of Braskem S.A. (NYSE:BAK) hit a new 52-week high during trading on Thursday . The stock traded as high as $5.40 and last traded at $4.9750, with a volume of 5935340 shares changing hands. The stock had previously closed at $4.79.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 target price on the stock. in a report on Thursday, March 26th. Citigroup upgraded Braskem from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a report on Monday, April 20th. JPMorgan Chase & Co. upgraded Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 target price on the stock in a report on Tuesday. Finally, Bradesco Corretora cut Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 target price on the stock. in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Braskem currently has a consensus rating of “Reduce” and an average target price of $3.40.

Braskem Stock Up 3.9%

The business has a 50-day moving average price of $3.97 and a two-hundred day moving average price of $3.44. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -1.08 and a beta of 1.56.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Saturday, February 14th. The company reported ($2.33) earnings per share (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%. On average, sell-side analysts anticipate that Braskem S.A. will post -2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BAK. Signaturefd LLC boosted its stake in Braskem by 50.1% in the 4th quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after purchasing an additional 4,513 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Braskem by 444.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after purchasing an additional 7,003 shares during the period. Quadrant Capital Group LLC boosted its stake in Braskem by 222.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock worth $38,000 after purchasing an additional 8,832 shares during the period. Virtu Financial LLC boosted its stake in Braskem by 28.7% in the 3rd quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock worth $108,000 after purchasing an additional 9,938 shares during the period. Finally, Cetera Investment Advisers bought a new position in Braskem in the 1st quarter worth about $51,000.

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.