Braskem (BAK) Upgraded to “Outperform” at UBS Group
UBS Group upgraded shares of Braskem (NYSE:BAK) from a market perform rating to an outperform rating in a report published on Tuesday morning, The Fly reports.
Separately, Zacks Investment Research lowered shares of Braskem from a strong-buy rating to a hold rating in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $34.00.
Braskem (NYSE:BAK) traded down $0.09 during midday trading on Tuesday, reaching $29.98. 361,300 shares of the company’s stock traded hands, compared to its average volume of 499,300. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.58 and a current ratio of 0.86. Braskem has a 1 year low of $17.44 and a 1 year high of $33.73.
The company also recently declared a special dividend, which was paid on Friday, December 22nd. Shareholders of record on Monday, December 11th were given a dividend of $0.7748 per share. The ex-dividend date was Friday, December 8th.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of Braskem by 0.3% in the second quarter. Wells Fargo & Company MN now owns 79,124 shares of the energy company’s stock valued at $1,639,000 after purchasing an additional 274 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Braskem by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 123,539 shares of the energy company’s stock valued at $2,560,000 after purchasing an additional 949 shares during the period. Advisor Group Inc. raised its position in shares of Braskem by 50.6% in the third quarter. Advisor Group Inc. now owns 6,985 shares of the energy company’s stock valued at $187,000 after purchasing an additional 2,346 shares during the period. SG Americas Securities LLC bought a new position in shares of Braskem in the third quarter valued at about $133,000. Finally, Citigroup Inc. raised its position in shares of Braskem by 168.5% in the second quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after purchasing an additional 5,157 shares during the period. 0.63% of the stock is currently owned by institutional investors.
Braskem Company Profile
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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