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

Shares of Braskem S.A. (NYSE:BAK) have received an average recommendation of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.8667.

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

Braskem Trading Down 0.4%

Shares of NYSE:BAK opened at $3.60 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of -0.78 and a beta of 1.74. The stock’s 50-day moving average price is $3.97 and its 200-day moving average price is $3.23. Braskem has a 12-month low of $2.32 and a 12-month high of $5.30.

Braskem (NYSE:BAK) last released its 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 net margin of 14.53% and a negative return on equity of 21.95%. As a group, research analysts predict that Braskem will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Braskem

Hedge funds have recently modified their holdings of the company. UBS Group AG boosted its holdings in shares of Braskem by 2.6% during the third quarter. UBS Group AG now owns 783,445 shares of the company’s stock worth $1,896,000 after purchasing an additional 19,956 shares during the period. State Street Corp increased its holdings in Braskem by 7.2% during the 4th quarter. State Street Corp now owns 311,507 shares of the company’s stock valued at $919,000 after purchasing an additional 20,805 shares during the period. Renaissance Technologies LLC raised its position in Braskem by 619.5% during the 4th quarter. Renaissance Technologies LLC now owns 265,488 shares of the company’s stock valued at $783,000 after purchasing an additional 228,588 shares during the last quarter. Jump Financial LLC lifted its holdings in 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 buying an additional 226,467 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Braskem by 193.6% in the 4th quarter. Jane Street Group LLC now owns 220,898 shares of the company’s stock worth $652,000 after buying an additional 145,655 shares during the period.

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.