Shares of Braskem S.A. (NYSE:BAK – Get Rating) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $32.40.
BAK has been the topic of a number of analyst reports. Howard Weil cut Braskem from a “sector perform” rating to a “sector underperform” rating in a research report on Monday, August 15th. Scotiabank downgraded Braskem from a “sector perform” rating to a “sector underperform” rating in a research report on Monday, August 15th. Finally, TheStreet downgraded Braskem from a “b-” rating to a “c” rating in a research report on Friday, August 12th.
Braskem Stock Performance
Shares of Braskem stock opened at $12.53 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.89 and a debt-to-equity ratio of 5.91. The firm has a market capitalization of $5.66 billion, a P/E ratio of 4.06, a P/E/G ratio of 0.35 and a beta of 1.65. The business has a fifty day simple moving average of $13.32 and a two-hundred day simple moving average of $16.32. Braskem has a 12 month low of $11.41 and a 12 month high of $26.93.
Hedge Funds Weigh In On Braskem
Several hedge funds have recently bought and sold shares of the business. Cerity Partners LLC bought a new position in shares of Braskem during the 2nd quarter worth $160,000. Assetmark Inc. grew its position in shares of Braskem by 83.1% during the 2nd quarter. Assetmark Inc. now owns 64,038 shares of the company’s stock worth $914,000 after buying an additional 29,055 shares in the last quarter. Veriti Management LLC grew its position in shares of Braskem by 52.3% during the 2nd quarter. Veriti Management LLC now owns 19,079 shares of the company’s stock worth $272,000 after buying an additional 6,552 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Braskem by 16.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 185,500 shares of the company’s stock worth $3,458,000 after buying an additional 25,800 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in shares of Braskem during the 1st quarter worth $195,000. Institutional investors own 0.12% of the company’s stock.
About Braskem
Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells chemicals, including ethylene, polymer and chemical grade propylene, butadiene, butene-1, benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.