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

Shares of Braskem S.A. (NYSE:BAK) have been assigned a consensus recommendation of “Reduce” from the eight research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.40.

A number of brokerages have issued reports on BAK. Bradesco Corretora cut Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 target price for the company. in a research report on Tuesday, April 21st. Bank of America cut 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. Zacks Research cut Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. raised Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 price objective for the company in a research report on Tuesday, May 12th. Finally, Citigroup raised Braskem from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st.

Hedge Funds Weigh In On Braskem

Several large investors have recently made changes to their positions in BAK. EverSource Wealth Advisors LLC lifted its position in shares of Braskem by 444.4% during 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 last quarter. Ballentine Partners LLC acquired a new position in shares of Braskem during the 3rd quarter worth about $34,000. Quadrant Capital Group LLC lifted its position in shares of Braskem by 222.1% during 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 last quarter. Signaturefd LLC lifted its position in shares of Braskem by 50.1% during 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 last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of Braskem during the 4th quarter worth about $44,000.

Braskem Stock Up 0.9%

Shares of Braskem stock opened at $4.84 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of -1.15, a PEG ratio of 0.14 and a beta of 1.56. The stock has a 50 day moving average price of $4.02 and a two-hundred day moving average price of $3.54. Braskem has a 12-month low of $2.32 and a 12-month high of $5.39.

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. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%. Sell-side analysts anticipate that Braskem will post 2.07 earnings per share for the current year.

About Braskem

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.