Brookfield Asset Management (NYSE:BAM) Rating Lowered to Sell at Zacks Investment Research

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Brookfield Asset Management Inc. is an asset manager. Focused on property, power and infrastructure assets, the company has assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. At Brookfield they continually strive to ensure that they have sound corporate governance practices to maintain investor confidence in the way in which they do business. To ensure it communicates with there practices and commitment to strong corporate governance, they are proud to share with its Statement of Corporate Governance, Corporate Disclosure Policy, Code of Business Conduct and Ethics and other related information on its corporate governance initiatives and practices. “

Several other analysts also recently weighed in on the company. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on Brookfield Asset Management from $64.00 to $62.00 and set a “hold” rating on the stock in a research note on Thursday, April 7th. Citigroup upped their target price on Brookfield Asset Management from $61.00 to $65.50 in a research report on Friday, February 11th. TD Securities boosted their price target on Brookfield Asset Management from $75.00 to $77.00 and gave the company an “action list buy” rating in a report on Monday, February 7th. Finally, Credit Suisse Group upped their target price on Brookfield Asset Management from $63.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, February 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $66.15.

NYSE BAM traded down $0.11 on Wednesday, reaching $54.47. 1,122,316 shares of the stock were exchanged, compared to its average volume of 1,785,668. Brookfield Asset Management has a one year low of $43.96 and a one year high of $62.47. The company’s 50-day simple moving average is $55.34 and its two-hundred day simple moving average is $56.99. The firm has a market capitalization of $89.40 billion, a PE ratio of 22.79 and a beta of 1.30.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last posted its earnings results on Thursday, February 10th. The financial services provider reported $0.66 earnings per share for the quarter. The firm had revenue of $21.79 billion during the quarter. Brookfield Asset Management had a net margin of 5.24% and a return on equity of 3.21%. As a group, research analysts predict that Brookfield Asset Management will post 3.22 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Disciplined Investments LLC acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $26,000. Strategic Asset Management LLC raised its stake in Brookfield Asset Management by 121.5% during the 4th quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 243 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Brookfield Asset Management during the 4th quarter valued at $38,000. Massmutual Trust Co. FSB ADV increased its position in shares of Brookfield Asset Management by 46.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 201 shares during the period. Finally, Wealth Quarterback LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Brookfield Asset Management (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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