Braskem S.A. (NYSE:BAK) Receives $4.40 Average PT from Brokerages

Braskem S.A. (NYSE:BAK) has been assigned an average recommendation of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $4.40.

Several research analysts have recently commented on BAK shares. Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Braskem in a research report on Wednesday, January 21st. Finally, Citigroup cut Braskem from a “hold” rating to a “sell” rating in a research note on Monday, February 16th.

Braskem Stock Up 3.4%

Braskem stock opened at $4.75 on Monday. The firm has a fifty day simple moving average of $3.65 and a two-hundred day simple moving average of $3.15. Braskem has a twelve month low of $2.32 and a twelve month high of $5.30. The company has a market capitalization of $1.89 billion, a PE ratio of -2.08 and a beta of 1.84.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in Braskem by 444.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 8,579 shares of the company’s stock valued at $25,000 after buying an additional 7,003 shares during the period. Ballentine Partners LLC bought a new stake in Braskem in the 3rd quarter worth $34,000. Quadrant Capital Group LLC increased its position in shares of Braskem by 222.1% in the fourth quarter. Quadrant Capital Group LLC now owns 12,809 shares of the company’s stock valued at $38,000 after acquiring an additional 8,832 shares during the period. Signaturefd LLC increased its position in shares of Braskem by 50.1% in the fourth quarter. Signaturefd LLC now owns 13,524 shares of the company’s stock valued at $40,000 after acquiring an additional 4,513 shares during the period. Finally, Evergreen Capital Management LLC bought a new position in shares of Braskem during the fourth quarter valued at about $44,000.

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.