Brookfield Asset Management (NYSE:BAM) Cut to Sell at Wall Street Zen

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research firms also recently issued reports on BAM. Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Wednesday, November 5th. National Bankshares lowered their price target on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Morgan Stanley set a $62.00 price objective on Brookfield Asset Management in a research report on Monday, October 13th. Finally, National Bank Financial started coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $64.23.

Brookfield Asset Management Stock Down 0.7%

Shares of BAM stock opened at $51.50 on Friday. Brookfield Asset Management has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a market cap of $84.35 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The stock has a 50 day moving average of $56.08 and a 200-day moving average of $57.36.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning increased its position in shares of Brookfield Asset Management by 17.8% during the 3rd quarter. Creative Planning now owns 147,144 shares of the financial services provider’s stock worth $8,378,000 after purchasing an additional 22,220 shares in the last quarter. Credit Agricole S A acquired a new position in Brookfield Asset Management in the third quarter valued at about $327,000. Raymond James Financial Inc. grew its stake in Brookfield Asset Management by 13.2% during the third quarter. Raymond James Financial Inc. now owns 251,711 shares of the financial services provider’s stock worth $14,332,000 after buying an additional 29,299 shares during the last quarter. Virtu Financial LLC grew its stake in Brookfield Asset Management by 231.3% during the third quarter. Virtu Financial LLC now owns 15,707 shares of the financial services provider’s stock worth $894,000 after buying an additional 10,966 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Brookfield Asset Management by 2.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,613 shares of the financial services provider’s stock worth $7,435,000 after buying an additional 2,968 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.