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

Shares of Braskem S.A. (NYSE:BAK) have earned an average rating of “Strong Sell” from the eight ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.40.

BAK has been the subject of a number of research reports. Citigroup downgraded shares of Braskem from a “neutral” rating to a “sell” rating in a research note on Thursday, June 25th. Zacks Research lowered Braskem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Braskem in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. downgraded Braskem from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 30th.

Braskem Stock Down 1.5%

NYSE:BAK opened at $1.66 on Monday. The stock has a market cap of $659.68 million, a P/E ratio of -0.68, a price-to-earnings-growth ratio of 0.10 and a beta of 1.62. The firm’s fifty day simple moving average is $2.31 and its 200 day simple moving average is $3.40. Braskem has a twelve month low of $1.40 and a twelve month high of $5.39.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Friday, June 26th. The company reported $1.61 EPS for the quarter. Braskem had a negative net margin of 7.28% and a negative return on equity of 67.75%. The business had revenue of $4.20 billion during the quarter. On average, analysts expect that Braskem will post 1.58 EPS for the current fiscal year.

Institutional Trading of Braskem

A number of hedge funds have recently made changes to their positions in BAK. Jump Financial LLC raised its position in shares of Braskem by 607.1% in the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company’s stock worth $865,000 after purchasing an additional 226,467 shares during the last quarter. Jane Street Group LLC increased its stake in Braskem by 130.3% during the 2nd quarter. Jane Street Group LLC now owns 49,301 shares of the company’s stock valued at $162,000 after purchasing an additional 27,891 shares in the last quarter. Van ECK Associates Corp bought a new stake in Braskem during the 3rd quarter valued at about $117,000. UBS Group AG raised its holdings in Braskem by 2.6% in the third quarter. UBS Group AG now owns 783,445 shares of the company’s stock worth $1,896,000 after buying an additional 19,956 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in shares of Braskem by 28.7% in the third quarter. Virtu Financial LLC now owns 44,587 shares of the company’s stock worth $108,000 after buying an additional 9,938 shares in the last quarter.

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.