Braskem (NYSE:BAK) Stock Rating Upgraded by UBS Group

Braskem (NYSE:BAK) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $10.00 price target on the stock, up from their prior price target of $7.70. UBS Group’s price objective points to a potential upside of 42.05% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Braskem from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Citigroup raised shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 20th.

Braskem Stock Down 3.2 %

Braskem stock opened at $7.04 on Wednesday. Braskem has a fifty-two week low of $5.28 and a fifty-two week high of $10.98. The company has a debt-to-equity ratio of 23.25, a quick ratio of 0.84 and a current ratio of 1.31. The firm’s 50-day simple moving average is $6.43 and its 200 day simple moving average is $7.52. The stock has a market cap of $3.18 billion, a PE ratio of -2.18 and a beta of 2.02.

Braskem (NYSE:BAK) last announced its earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.30. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.56 billion. Braskem had a negative return on equity of 276.59% and a negative net margin of 12.98%. Research analysts predict that Braskem will post -1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Braskem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in shares of Braskem by 60.9% in the second quarter. Point72 Asset Management L.P. now owns 41,200 shares of the company’s stock worth $266,000 after purchasing an additional 15,600 shares in the last quarter. Jump Financial LLC raised its holdings in Braskem by 4.3% during the 4th quarter. Jump Financial LLC now owns 67,392 shares of the company’s stock valued at $594,000 after acquiring an additional 2,790 shares during the period. Boston Partners bought a new stake in Braskem during the 1st quarter valued at $627,000. American Century Companies Inc. lifted its position in shares of Braskem by 1.6% during the second quarter. American Century Companies Inc. now owns 111,968 shares of the company’s stock worth $722,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Braskem by 197.1% in the fourth quarter. Trexquant Investment LP now owns 141,852 shares of the company’s stock worth $1,251,000 after acquiring an additional 94,099 shares during the period.

Braskem Company Profile

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 olefins, including ethylene, polymer and chemical grade propylene, butadiene, and 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.