Braskem S.A. (NYSE:BAK) has been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.00.
BAK has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded Braskem from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Wednesday, February 24th. Scotiabank lowered Braskem from an “outperform” rating to a “sector perform” rating in a report on Friday, March 12th. TheStreet upgraded Braskem from a “d+” rating to a “c-” rating in a report on Friday, May 21st. Zacks Investment Research lowered Braskem from a “buy” rating to a “sell” rating in a research note on Tuesday. Finally, HSBC reiterated a “hold” rating and issued a $20.00 price objective on shares of Braskem in a research note on Wednesday, April 28th.
A number of hedge funds have recently added to or reduced their stakes in BAK. BlackRock Inc. acquired a new stake in Braskem during the first quarter worth about $32,000. UBS Group AG grew its position in Braskem by 225.7% during the first quarter. UBS Group AG now owns 4,654 shares of the company’s stock worth $66,000 after buying an additional 3,225 shares in the last quarter. Credit Agricole S A grew its position in Braskem by 33.3% during the fourth quarter. Credit Agricole S A now owns 8,000 shares of the company’s stock worth $72,000 after buying an additional 2,000 shares in the last quarter. Morgan Stanley grew its position in Braskem by 107.6% during the first quarter. Morgan Stanley now owns 6,834 shares of the company’s stock worth $97,000 after buying an additional 3,542 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in Braskem during the fourth quarter worth about $119,000. 0.37% of the stock is currently owned by institutional investors and hedge funds.
Braskem (NYSE:BAK) last released its quarterly earnings data on Wednesday, May 5th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.24. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. Equities analysts anticipate that Braskem will post 4.28 earnings per share for the current year.
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 chemicals, including ethylene, polymer and chemical grade propylene, butadiene, 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.
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