Brokerages Set Braskem S.A. (NYSE:BAK) PT at $4.40

Shares of Braskem S.A. (NYSE:BAK) have been assigned a consensus rating of “Reduce” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4.40.

BAK has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Wednesday. Citigroup downgraded shares of Braskem from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Santander lowered Braskem from a “neutral” rating to an “underperform” rating in a report on Thursday, October 16th.

Institutional Trading of Braskem

A number of large investors have recently made changes to their positions in BAK. Ballentine Partners LLC purchased a new position in Braskem in the third quarter worth approximately $34,000. Signaturefd LLC grew its stake in shares of Braskem by 50.1% during the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock worth $40,000 after purchasing an additional 4,513 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Braskem in the third quarter valued at $64,000. Dark Forest Capital Management LP raised its stake in Braskem by 94.7% in the third quarter. Dark Forest Capital Management LP now owns 32,127 shares of the company’s stock valued at $78,000 after buying an additional 15,630 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in Braskem by 28.7% during the 3rd quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock worth $108,000 after buying an additional 9,938 shares during the last quarter.

Braskem Stock Performance

NYSE:BAK opened at $3.65 on Friday. Braskem has a 52 week low of $2.32 and a 52 week high of $5.10. The stock’s fifty day moving average is $2.99 and its two-hundred day moving average is $2.98.

Braskem (NYSE:BAK) last posted its earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.46. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.23 billion. Equities research analysts predict 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.