Braskem (BAK) Stock Rating Lowered by Santander

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Santander lowered shares of Braskem (NYSE:BAK) from a buy rating to a hold rating in a report published on Friday, The Fly reports.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Braskem from a buy rating to a sell rating in a report on Tuesday, April 16th. ValuEngine upgraded shares of Braskem from a sell rating to a hold rating in a report on Thursday, January 31st.

Shares of NYSE BAK opened at $19.71 on Friday. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.93. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.51 and a beta of 1.20. Braskem has a 52-week low of $19.57 and a 52-week high of $30.52.

Several institutional investors have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware increased its holdings in shares of Braskem by 1.6% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 47,552 shares of the energy company’s stock worth $1,163,000 after buying an additional 755 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in shares of Braskem by 45.5% in the 4th quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the energy company’s stock worth $78,000 after buying an additional 1,000 shares during the last quarter. Nkcfo LLC bought a new stake in shares of Braskem in the 1st quarter worth about $26,000. Citigroup Inc. increased its holdings in shares of Braskem by 368.0% in the 1st quarter. Citigroup Inc. now owns 1,872 shares of the energy company’s stock worth $48,000 after buying an additional 1,472 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Braskem by 2.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 136,016 shares of the energy company’s stock worth $3,512,000 after buying an additional 2,931 shares during the last quarter. Hedge funds and other institutional investors own 0.33% of the company’s stock.

About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through Chemicals, Polyolefins, Vinyls, United States and Europe, and Mexico segments. The Chemicals segment produces and sells ethylene, propylene butadiene, toluene, xylene, cumene, and benzene, as well as gasoline, diesel and liquefied petroleum gas, and other petroleum derivatives; and supplies electric energy, steam, compressed air, and other inputs to second-generation producers.

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