Berkshire Hathaway Inc. (BRK.B) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research downgraded shares of Berkshire Hathaway Inc. (NYSE:BRK.B) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “Berkshire Hathaway’s bottom–line missed estimates and declined year over year on huge cat loss. The company’s insurance business generates maximum return on equity and thus exposure to catastrophe loss remains a concern. Huge capital expenses on account of railroad operations remain headwinds. Capital expenditure is estimated at $2.6 billion for the remainder of 2017. Shares of Berkshire have underperformed the industry quarter to date. Nonetheless, inorganic story remains impressive with strategic acquisitions. Continuous investment through strategic buyouts testifies confidence in business environment in the Trump era. The company’s strong cash position allows it to make earnings-accretive bolt-on acquisitions. Demand for utilities is expected to rise in the future and drive earnings growth. Continued insurance business growth also fuels increase in float. A sturdy capital level further adds impetus to the company.”
A number of other equities research analysts also recently issued reports on BRK.B. Vetr upgraded shares of Berkshire Hathaway from a hold rating to a strong-buy rating and set a $204.74 target price for the company in a research report on Tuesday, August 29th. Barclays PLC increased their target price on shares of Berkshire Hathaway from $191.00 to $205.00 and gave the stock an overweight rating in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co initiated coverage on shares of Berkshire Hathaway in a research report on Thursday, September 14th. They issued an overweight rating and a $210.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $202.19.
Berkshire Hathaway (BRK.B) opened at $183.68 on Tuesday. Berkshire Hathaway has a 52 week low of $151.68 and a 52 week high of $190.68. The company has a market cap of $455,123.56, a P/E ratio of 29.33, a P/E/G ratio of 3.91 and a beta of 0.87.
Berkshire Hathaway Company Profile
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