Braskem S.A. (NYSE:BAK) Receives $3.40 Consensus Target Price from Analysts

Shares of Braskem S.A. (NYSE:BAK) have earned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.40.

Several equities research analysts have recently issued reports on BAK shares. Bradesco Corretora cut Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective on the stock. in a report on Tuesday, April 21st. Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price objective on the stock. in a report on Thursday, March 26th. Citigroup upgraded Braskem from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 1st. Zacks Research cut Braskem from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a report on Monday, April 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in Braskem by 2.6% in the third quarter. UBS Group AG now owns 783,445 shares of the company’s stock valued at $1,896,000 after acquiring an additional 19,956 shares during the last quarter. Brooklands Fund Management Ltd acquired a new position in Braskem in the first quarter valued at $2,013,000. State Street Corp boosted its holdings in Braskem by 7.2% in the fourth quarter. State Street Corp now owns 311,507 shares of the company’s stock valued at $919,000 after acquiring an additional 20,805 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Braskem by 619.5% in the fourth quarter. Renaissance Technologies LLC now owns 265,488 shares of the company’s stock valued at $783,000 after acquiring an additional 228,588 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings 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 acquiring an additional 226,467 shares during the last quarter.

Braskem Stock Down 5.2%

BAK stock opened at $4.49 on Friday. Braskem has a 52-week low of $2.32 and a 52-week high of $5.39. The stock’s fifty day simple moving average is $4.03 and its 200-day simple moving average is $3.60. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.06, a price-to-earnings-growth ratio of 0.14 and a beta of 1.56.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.48. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%.The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.39 billion. As a group, analysts anticipate that Braskem will post 2.07 earnings per share 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.