Braskem (BAK) Rating Increased to Outperform at UBS Group

UBS Group upgraded shares of Braskem (NYSE:BAK) from a market perform rating to an outperform rating in a research report released on Tuesday morning, The Fly reports.

Separately, Zacks Investment Research downgraded Braskem from a strong-buy rating to a hold rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Braskem currently has a consensus rating of Buy and an average price target of $34.00.

Braskem (NYSE BAK) traded up $2.03 during mid-day trading on Tuesday, hitting $32.01. The stock had a trading volume of 856,280 shares, compared to its average volume of 350,299. Braskem has a 1 year low of $17.44 and a 1 year high of $33.73. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.86 and a quick ratio of 0.58.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Thursday, November 9th. The energy company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.13. Braskem had a return on equity of 28.41% and a net margin of 3.07%. analysts expect that Braskem will post 2.77 earnings per share for the current year.

The company also recently announced a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Monday, December 11th were paid a $0.7748 dividend. The ex-dividend date of this dividend was Friday, December 8th.

Several institutional investors and hedge funds have recently modified their holdings of BAK. JPMorgan Chase & Co. grew its stake in shares of Braskem by 75.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 261,291 shares of the energy company’s stock valued at $5,414,000 after buying an additional 112,024 shares during the period. Wells Fargo & Company MN grew its stake in shares of Braskem by 0.3% in the 2nd quarter. Wells Fargo & Company MN now owns 79,124 shares of the energy company’s stock valued at $1,639,000 after buying an additional 274 shares during the period. Citigroup Inc. grew its stake in shares of Braskem by 168.5% in the 2nd quarter. Citigroup Inc. now owns 8,217 shares of the energy company’s stock valued at $170,000 after buying an additional 5,157 shares during the period. Vanguard Group Inc. grew its stake in shares of Braskem by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 984,260 shares of the energy company’s stock valued at $20,394,000 after buying an additional 56,342 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Braskem by 0.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 123,539 shares of the energy company’s stock valued at $2,560,000 after buying an additional 949 shares during the period. Institutional investors own 0.63% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Braskem (BAK) Rating Increased to Outperform at UBS Group” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3147615/braskem-bak-rating-increased-to-outperform-at-ubs-group.html.

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.

The Fly

Receive News & Ratings for Braskem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Braskem and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.