Braskem SA Cut to Underperform at Zacks (BAK)
Braskem SA (NYSE:BAK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Thursday. They currently have a $12.80 price objective on the stock. Zacks‘s target price suggests a potential downside of 5.19% from the company’s current price.
Braskem SA (NYSE:BAK) traded down 0.81% on Thursday, hitting $13.39. The stock had a trading volume of 114,866 shares. Braskem SA has a 52 week low of $12.14 and a 52 week high of $18.58. The stock’s 50-day moving average is $12.88 and its 200-day moving average is $13.74. The company has a market cap of $5.330 billion and a price-to-earnings ratio of 16.63. Braskem SA also was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,156,214 shares, an increase of 105.6% from the July 15th total of 1,048,553 shares. Based on an average daily trading volume, of 312,208 shares, the short-interest ratio is presently 6.9 days. Approximately 0.0% of the shares of the company are short sold.
Braskem SA (NYSE:BAK) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.23 by $0.09. On average, analysts predict that Braskem SA will post $1.02 earnings per share for the current fiscal year.
Separately, analysts at HSBC downgraded shares of Braskem SA from an “overweight” rating to a “neutral” rating in a research note on Friday, August 8th.
Braskem SA (NYSE:BAK) is a petrochemical company.
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