Shares of Braskem S.A. (NYSE:BAK – Get Free Report) have earned a consensus recommendation of “Strong Sell” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $3.40.
Several equities research analysts have recently weighed in on the company. Zacks Research cut Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup cut shares of Braskem from a “neutral” rating to a “sell” rating in a research report on Thursday, June 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. lowered Braskem from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 30th.
View Our Latest Stock Report on Braskem
Braskem Trading Down 1.5%
Braskem (NYSE:BAK – Get Free Report) last released its quarterly earnings data on Friday, June 26th. The company reported $1.61 EPS for the quarter. The business had revenue of $4.20 billion for the quarter. Braskem had a negative net margin of 7.28% and a negative return on equity of 67.75%. Analysts forecast that Braskem will post 1.58 EPS for the current year.
Institutional Trading of Braskem
A number of institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Braskem by 444.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after buying an additional 7,003 shares during the period. Quadrant Capital Group LLC grew its holdings 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 acquiring an additional 8,832 shares during the last quarter. Cetera Investment Advisers bought a new stake in Braskem in the 1st quarter worth $51,000. Brevan Howard Capital Management LP purchased a new stake in shares of Braskem during the third quarter worth about $64,000. Finally, Dark Forest Capital Management LP boosted its holdings in shares of 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 during the period.
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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