Brokerages Set Braskem S.A. (NYSE:BAK) Target Price at $4.40

Shares of Braskem S.A. (NYSE:BAK) have earned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.40.

Several analysts recently issued reports on BAK shares. Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Santander lowered shares of Braskem from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 16th. UBS Group cut shares of Braskem from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $5.10 to $3.80 in a report on Friday, September 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, October 8th. Finally, Citigroup lowered shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, October 10th.

Braskem Trading Down 4.7%

NYSE BAK opened at $2.94 on Wednesday. The stock has a market cap of $1.17 billion, a P/E ratio of -1.29 and a beta of 1.89. The company’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $3.04. Braskem has a 52 week low of $2.32 and a 52 week high of $5.10.

Braskem (NYSE:BAK) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.46. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, research analysts expect that Braskem will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Graham Capital Management L.P. bought a new position in Braskem in the 1st quarter valued at about $532,000. Centric Wealth Management acquired a new stake in shares of Braskem in the 2nd quarter worth approximately $128,000. American Century Companies Inc. boosted its holdings in shares of Braskem by 12.6% in the first quarter. American Century Companies Inc. now owns 110,035 shares of the company’s stock valued at $424,000 after acquiring an additional 12,300 shares in the last quarter. Jump Financial LLC increased its stake in shares of Braskem by 114.4% during the first quarter. Jump Financial LLC now owns 37,304 shares of the company’s stock valued at $144,000 after acquiring an additional 19,904 shares during the period. Finally, Dark Forest Capital Management LP raised its holdings in Braskem by 94.7% during the third quarter. Dark Forest Capital Management LP now owns 32,127 shares of the company’s stock worth $78,000 after purchasing an additional 15,630 shares in the last quarter.

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.