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

Braskem S.A. (NYSE:BAK) has been assigned a consensus rating of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $3.8667.

Several research firms recently weighed in on BAK. Bank of America cut shares of Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price objective for the company. in a research report on Thursday, March 26th. Citigroup upgraded shares of Braskem from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Zacks Research downgraded shares of Braskem from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On Braskem

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of Braskem by 619.5% during the 4th quarter. Renaissance Technologies LLC now owns 265,488 shares of the company’s stock worth $783,000 after buying an additional 228,588 shares in the last quarter. Jump Financial LLC boosted its position in Braskem by 607.1% in the second quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock valued at $865,000 after buying an additional 226,467 shares in the last quarter. Marshall Wace LLP acquired a new stake in Braskem in the fourth quarter valued at approximately $477,000. Jane Street Group LLC grew its stake in shares of Braskem by 193.6% during the fourth quarter. Jane Street Group LLC now owns 220,898 shares of the company’s stock worth $652,000 after buying an additional 145,655 shares during the last quarter. Finally, X Square Capital LLC increased its holdings in shares of Braskem by 117.6% during the fourth quarter. X Square Capital LLC now owns 185,000 shares of the company’s stock worth $546,000 after buying an additional 100,000 shares in the last quarter.

Braskem Price Performance

Shares of NYSE:BAK opened at $3.60 on Friday. The business’s 50 day simple moving average is $3.98 and its 200 day simple moving average is $3.23. Braskem has a 1 year low of $2.32 and a 1 year high of $5.30. The company has a market capitalization of $1.43 billion, a P/E ratio of -0.78 and a beta of 1.74.

Braskem (NYSE:BAK) last released its earnings results on Saturday, February 14th. The company reported ($2.33) earnings per share for the quarter. The company had revenue of $2.56 billion for the quarter. Braskem had a negative net margin of 14.53% and a negative return on equity of 21.95%. On average, sell-side analysts anticipate that Braskem will post -0.77 EPS for the current fiscal year.

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.