Braskem (BAK) Lifted to “Hold” at Zacks Investment Research

Braskem (NYSE:BAK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Braskem SA figures as the largest petrochemical operation in Latin America and among the five largest private companies in Brazil. With industrial facilities located in Alagoas, Bahia, São Paulo and Rio Grande do Sul, Braskem produces primary base petrochemicals such as ethylene, propylene, benzene, caprolactam, DMT and termoplastic resins (polypropylene, polyethylene, PVC and PET) gas and GLP. “

Separately, UBS Group raised Braskem from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Shares of Braskem (NYSE:BAK) traded down $0.13 during midday trading on Monday, reaching $31.67. The company’s stock had a trading volume of 262,740 shares, compared to its average volume of 542,907. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.58 and a current ratio of 0.86. Braskem has a 1 year low of $17.44 and a 1 year high of $33.73.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Thursday, November 9th. The energy company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $3.90 billion. Braskem had a return on equity of 28.41% and a net margin of 3.07%. analysts anticipate that Braskem will post 2.77 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Braskem in the third quarter valued at approximately $133,000. Advisor Group Inc. grew its position in shares of Braskem by 50.6% in the third quarter. Advisor Group Inc. now owns 6,985 shares of the energy company’s stock valued at $187,000 after purchasing an additional 2,346 shares during the last quarter. Citigroup Inc. grew its position in shares of Braskem by 168.5% in the second quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after purchasing an additional 5,157 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Braskem by 10,474.0% in the second quarter. Tower Research Capital LLC TRC now owns 10,574 shares of the energy company’s stock valued at $219,000 after purchasing an additional 10,474 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of Braskem in the third quarter valued at approximately $292,000. 0.63% of the stock is currently owned by institutional investors.

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Braskem Company Profile

Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.

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