Today: Zacks: Braskem SA (BAK) Given Average Recommendation of “Buy” from Brokerages

Today: Zacks: Braskem SA (BAK) Given Average Recommendation of “Buy” from Brokerages

Shares of Braskem SA (NYSE:BAK) have been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Braskem SA’s rating score has declined by 100% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 1 year consensus price target of $17.50 for the company and are expecting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Braskem SA an industry rank of 80 out of 265 based on the ratings given to related companies.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Braskem SA from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Thursday, October 27th. HSBC assumed coverage on Braskem SA in a research report on Tuesday, October 11th. They set a “buy” rating and a $18.00 target price for the company.

A number of large investors have recently modified their holdings of BAK. Advisor Group Inc. purchased a new stake in shares of Braskem SA during the second quarter valued at about $110,000. Crow Point Partners LLC purchased a new stake in shares of Braskem SA during the third quarter valued at about $126,000. AMP Capital Investors Ltd purchased a new stake in shares of Braskem SA during the third quarter valued at about $163,000. Bank of New York Mellon Corp purchased a new stake in shares of Braskem SA during the second quarter valued at about $173,000. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of Braskem SA during the second quarter valued at about $173,000. 1.03% of the stock is owned by hedge funds and other institutional investors.

Braskem SA (NYSE:BAK) traded up 6.06% during midday trading on Monday, reaching $16.27. The company had a trading volume of 234,344 shares. The company has a 50-day moving average price of $16.85 and a 200-day moving average price of $13.71. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 9.53 and a beta of 1.59. Braskem SA has a one year low of $10.82 and a one year high of $18.40.

Braskem SA 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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