Braskem S.A. (NYSE:BAK – Get Free Report) has been assigned a consensus rating of “Reduce” from the eight analysts that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.40.
Several analysts have recently issued reports on BAK shares. JPMorgan Chase & Co. raised Braskem from a “neutral” rating to an “overweight” rating and set a $5.50 price objective on the stock in a report on Tuesday, May 12th. Bradesco Corretora cut Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective on the stock. in a report on Tuesday, April 21st. Zacks Research cut Braskem from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price objective on the stock. in a report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a report on Monday, April 20th.
Read Our Latest Stock Analysis on BAK
Braskem Trading Down 10.9%
Braskem (NYSE:BAK – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.48. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%.The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.39 billion. On average, analysts forecast that Braskem will post 3.15 EPS for the current fiscal year.
Institutional Trading of Braskem
Several hedge funds have recently modified their holdings of BAK. Jump Financial LLC raised its holdings in shares of Braskem by 607.1% during the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock worth $865,000 after acquiring an additional 226,467 shares in the last quarter. Jane Street Group LLC increased its position in shares of Braskem by 130.3% during the 2nd quarter. Jane Street Group LLC now owns 49,301 shares of the company’s stock valued at $162,000 after purchasing an additional 27,891 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Braskem during the 3rd quarter valued at approximately $117,000. UBS Group AG increased 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 purchasing an additional 19,956 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of Braskem by 28.7% during 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 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.
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