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

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

A number of equities research analysts have recently weighed in on BAK shares. Santander lowered Braskem from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 16th. Zacks Research downgraded shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st.

Institutional Trading of Braskem

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Braskem by 444.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock worth $25,000 after acquiring an additional 7,003 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Braskem in the third quarter worth $34,000. Signaturefd LLC raised its holdings in Braskem by 50.1% in 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. Evergreen Capital Management LLC purchased a new position in Braskem during the fourth quarter valued at $44,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Braskem during the 3rd quarter valued at $64,000.

Braskem Trading Up 5.8%

Shares of NYSE:BAK opened at $4.30 on Thursday. The company has a 50-day moving average price of $3.19 and a 200-day moving average price of $3.01. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -1.88 and a beta of 1.89. Braskem has a 12 month low of $2.32 and a 12 month high of $4.74.

Braskem (NYSE:BAK) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.46. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, research analysts forecast 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.