Braskem S.A. (NYSE:BAK) Receives Average Recommendation of “Strong Sell” from Analysts

Braskem S.A. (NYSE:BAK) has been given an average recommendation of “Strong Sell” by the eight ratings firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.40.

A number of equities research analysts have weighed in on BAK shares. Citigroup downgraded shares of Braskem from a “neutral” rating to a “sell” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. lowered shares of Braskem from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 30th. Bradesco Corretora lowered shares of Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price target on the stock. in a research report on Tuesday, April 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a report on Friday, July 17th. Finally, Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th.

Braskem Stock Down 0.7%

Shares of BAK stock opened at $2.27 on Thursday. The business’s 50 day moving average is $2.89 and its two-hundred day moving average is $3.58. Braskem has a 12 month low of $2.20 and a 12 month high of $5.39. The company has a market cap of $902.84 million, a PE ratio of -0.54, a price-to-earnings-growth ratio of 0.13 and a beta of 1.62.

Braskem (NYSE:BAK) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.48. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.39 billion. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%. As a group, equities analysts expect that Braskem will post 1.64 EPS for the current fiscal year.

Institutional Trading of Braskem

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new position in Braskem in the second quarter valued at about $155,000. Bank of America Corp DE increased its stake in shares of Braskem by 178,471.4% in the 1st quarter. Bank of America Corp DE now owns 50,000 shares of the company’s stock valued at $183,000 after acquiring an additional 49,972 shares during the last quarter. Brooklands Fund Management Ltd acquired a new stake in shares of Braskem in the 1st quarter valued at approximately $2,013,000. Cetera Investment Advisers bought a new position in Braskem during the 1st quarter worth approximately $51,000. Finally, Private Advisor Group LLC bought a new position in Braskem during the 1st quarter worth approximately $157,000.

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.