Braskem S.A. (NYSE:BAK) Receives $20.33 Consensus Price Target from Brokerages

Braskem S.A. (NYSE:BAK) has been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $22.00.

BAK has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of Braskem in a research report on Tuesday. They issued a “buy” rating and a $32.00 price objective for the company. Zacks Investment Research downgraded shares of Braskem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 14th. Finally, TheStreet upgraded shares of Braskem from a “c-” rating to a “b-” rating in a research note on Friday, August 13th.

Several hedge funds have recently made changes to their positions in BAK. BlackRock Inc. purchased a new stake in Braskem in the 1st quarter worth approximately $32,000. Wells Fargo & Company MN lifted its stake in Braskem by 311.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,850 shares of the company’s stock worth $44,000 after purchasing an additional 1,400 shares in the last quarter. UBS Group AG lifted its stake in Braskem by 225.7% in the 1st quarter. UBS Group AG now owns 4,654 shares of the company’s stock worth $66,000 after purchasing an additional 3,225 shares in the last quarter. Liberty Wealth Management LLC purchased a new stake in Braskem in the 2nd quarter worth approximately $97,000. Finally, Morgan Stanley lifted its stake in Braskem by 107.6% in the 1st quarter. Morgan Stanley now owns 6,834 shares of the company’s stock worth $97,000 after purchasing an additional 3,542 shares in the last quarter.

NYSE:BAK opened at $22.19 on Friday. The company has a debt-to-equity ratio of 5.44, a current ratio of 1.26 and a quick ratio of 0.85. The firm has a 50-day moving average of $23.42 and a 200-day moving average of $20.41. The company has a market cap of $8.85 billion, a PE ratio of 5.04 and a beta of 1.66. Braskem has a one year low of $7.00 and a one year high of $26.93.

Braskem (NYSE:BAK) last posted its earnings results on Tuesday, August 3rd. The company reported $3.52 EPS for the quarter, topping the consensus estimate of $2.22 by $1.30. Braskem had a net margin of 11.24% and a negative return on equity of 811.92%. On average, equities research analysts expect that Braskem will post 6.58 earnings per share for the current fiscal year.

About Braskem

Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.

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Analyst Recommendations for Braskem (NYSE:BAK)

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