Analysts Set Braskem S.A. (NYSE:BAK) PT at $3.87

Shares of Braskem S.A. (NYSE:BAK) have been given an average rating of “Reduce” by the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.8667.

A number of equities analysts recently weighed in on BAK shares. Bank of America cut Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price target on the stock. in a research note on Thursday, March 26th. Citigroup raised Braskem from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Zacks Research cut Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On Braskem

Several institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its stake in Braskem by 50.1% during the 4th quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after acquiring an additional 4,513 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Braskem by 444.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock valued at $25,000 after acquiring an additional 7,003 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Braskem by 222.1% during the 4th quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after acquiring an additional 8,832 shares in the last quarter. Virtu Financial LLC grew its stake in Braskem by 28.7% during the 3rd quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock valued at $108,000 after acquiring an additional 9,938 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in Braskem during the 3rd quarter valued at about $34,000.

Braskem Trading Up 6.5%

Shares of Braskem stock opened at $3.53 on Friday. The company’s 50-day moving average price is $3.96 and its two-hundred day moving average price is $3.24. Braskem has a 52 week low of $2.32 and a 52 week high of $5.30. The stock has a market cap of $1.41 billion, a PE ratio of -0.76 and a beta of 1.74.

Braskem (NYSE:BAK) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($2.33) earnings per share for the quarter. The company had revenue of $2.56 billion during the quarter. Braskem had a negative return on equity of 21.95% and a negative net margin of 14.53%. On average, equities analysts predict that Braskem will post -0.77 EPS for the current fiscal year.

About Braskem

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.