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

Shares of Braskem S.A. (NYSE:BAKGet Free Report) have been given a consensus rating of “Strong Sell” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.40.

BAK has been the topic of several research reports. Citigroup downgraded Braskem from a “neutral” rating to a “sell” rating in a report on Thursday, June 25th. Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Bank of America lowered Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price target on the stock. in a research note on Thursday, March 26th. JPMorgan Chase & Co. cut Braskem from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 30th. Finally, Bradesco Corretora lowered Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective for the company. in a research report on Tuesday, April 21st.

Get Our Latest Analysis on Braskem

Institutional Investors Weigh In On Braskem

Several institutional investors have recently modified their holdings of the business. Jump Financial LLC lifted its holdings in Braskem by 607.1% in the second quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock valued at $865,000 after buying an additional 226,467 shares during the period. Jane Street Group LLC grew its holdings in Braskem by 130.3% during the 2nd quarter. Jane Street Group LLC now owns 49,301 shares of the company’s stock worth $162,000 after acquiring an additional 27,891 shares during the period. Van ECK Associates Corp bought a new stake in shares of Braskem during the 3rd quarter valued at $117,000. UBS Group AG raised its position in shares of Braskem by 2.6% during the 3rd quarter. UBS Group AG now owns 783,445 shares of the company’s stock valued at $1,896,000 after acquiring an additional 19,956 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in shares of Braskem by 28.7% in the 3rd quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock valued at $108,000 after purchasing an additional 9,938 shares during the period.

Braskem Stock Performance

BAK traded up $0.07 during midday trading on Friday, hitting $2.60. The company had a trading volume of 1,282,962 shares, compared to its average volume of 2,724,604. Braskem has a twelve month low of $2.25 and a twelve month high of $5.39. The company has a market capitalization of $1.03 billion, a PE ratio of -0.61, a P/E/G ratio of 0.06 and a beta of 1.61. The firm’s 50-day simple moving average is $3.64 and its 200-day simple moving average is $3.65.

Braskem (NYSE:BAKGet Free Report) 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 company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.39 billion. As a group, sell-side analysts anticipate that Braskem will post 2.79 EPS for the current fiscal year.

Braskem Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Braskem (NYSE:BAK)

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