Zacks: Braskem SA (NYSE:BAK) Given Consensus Recommendation of “Strong Buy” by Brokerages
Braskem SA (NYSE:BAK) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1-year consensus target price of $15.00 for the company, according to Zacks. Zacks has also given Braskem SA an industry rank of 159 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Braskem SA from a “strong sell” rating to a “hold” rating in a report on Friday, September 9th.
Hedge funds have recently bought and sold shares of the company. Advisor Group Inc. acquired a new stake in Braskem SA during the second quarter worth $110,000. Mckinley Capital Management LLC Delaware acquired a new stake in Braskem SA during the first quarter worth $144,000. Royal Bank of Canada acquired a new stake in Braskem SA during the first quarter worth $145,000. Bank of New York Mellon Corp acquired a new stake in Braskem SA during the second quarter worth $173,000. Finally, Nuveen Fund Advisors LLC acquired a new stake in Braskem SA during the second quarter worth $173,000. Hedge funds and other institutional investors own 1.15% of the company’s stock.
Shares of Braskem SA (NYSE:BAK) opened at 15.38 on Thursday. The firm has a 50-day moving average of $14.18 and a 200 day moving average of $12.86. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 6.61 and a beta of 1.96. Braskem SA has a one year low of $8.92 and a one year high of $16.25.
About Braskem SA
Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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