Braskem S.A. (NYSE:BAK) Given Consensus Rating of “Reduce” by Analysts

Braskem S.A. (NYSE:BAK) has been given an average recommendation of “Reduce” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.40.

Several research firms recently commented on BAK. UBS Group cut Braskem from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.10 to $3.80 in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, October 8th. Citigroup lowered shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. cut their target price on shares of Braskem from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 27th. Finally, Zacks Research cut shares of Braskem from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAK. Ballentine Partners LLC bought a new stake in shares of Braskem during the third quarter valued at approximately $34,000. R Squared Ltd increased its stake in Braskem by 55.2% during the 1st quarter. R Squared Ltd now owns 17,600 shares of the company’s stock valued at $68,000 after purchasing an additional 6,260 shares in the last quarter. Virtu Financial LLC acquired a new position in Braskem during the first quarter worth $99,000. Brevan Howard Capital Management LP bought a new position in shares of Braskem in the third quarter valued at $64,000. Finally, Dark Forest Capital Management LP increased its position 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 acquiring an additional 15,630 shares in the last quarter.

Braskem Price Performance

Shares of BAK stock opened at $2.89 on Friday. Braskem has a one year low of $2.32 and a one year high of $5.26. The business’s 50 day simple moving average is $2.69 and its 200 day simple moving average is $3.16. The stock has a market capitalization of $1.15 billion, a PE ratio of -1.14 and a beta of 1.81.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Tuesday, November 11th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.46. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.23 billion. As a group, research analysts expect that Braskem will post -0.77 earnings per share for the current year.

About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.