Zacks Investment Research cut shares of Berkshire Hathaway (NYSE:BRK.B) from a hold rating to a sell rating in a research note released on Monday, Zacks.com reports. They currently have $210.00 price target on the financial services provider’s stock.

According to Zacks, “Berkshire Hathaway’s earnings per share of $2.50 decreased 10.9% year over year, due to weak insurance business results. However, the quarter witnessed better revenues and pre-tax income. The company’s inorganic growth story remains impressive with strategic acquisitions. A strong cash position supports earnings-accretive bolt-on buyouts. Demand for utilities is expected drive earnings growth. Continued insurance business growth also fuels increase in float. Its non-insurance businesses are delivering improved results. A sturdy capital level provides further impetus. Its share has underperformed its industry in a year’s time. However, its exposure to catastrophe loss remains a concern as its property and casualty insurance business generates maximum return on equity. Huge capital expenses due to railroad operations pose concern.”

Shares of NYSE:BRK.B opened at $199.24 on Monday. The company’s 50-day moving average is $206.25 and its 200 day moving average is $205.70. The company has a market capitalization of $488.50 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.73 and a beta of 0.86. Berkshire Hathaway has a fifty-two week low of $186.10 and a fifty-two week high of $224.07.

About Berkshire Hathaway

Berkshire Hathaway Inc, through its subsidiaries engages in insurance, freight rail transportation, and utility businesses. It provides property and casualty insurance and reinsurance, as well as life, accident, and health reinsurance; and operates railroad systems in North America. The company also generates, transmits, and distributes electricity primarily from solar, wind, geothermal, and hydro sources; operates natural gas distribution and storage facilities, interstate pipelines, and compressor and meter stations; and holds interest in coal mining assets.

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