Zacks Research Upgrades Brookfield Asset Management (NYSE:BAM) to Strong-Buy

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on BAM. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. National Bank Financial lowered their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. The Goldman Sachs Group dropped their price target on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. JPMorgan Chase & Co. raised their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.65.

Brookfield Asset Management Stock Up 1.1%

NYSE BAM opened at $50.60 on Thursday. The business has a fifty day moving average price of $52.10 and a two-hundred day moving average price of $54.91. The stock has a market capitalization of $82.88 billion, a PE ratio of 33.29, a PEG ratio of 1.82 and a beta of 1.40. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Equities analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Institutional investors have recently bought and sold shares of the company. PDS Planning Inc raised its position in shares of Brookfield Asset Management by 4.8% in the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 184 shares in the last quarter. Truist Financial Corp grew its stake in Brookfield Asset Management by 1.4% during the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 187 shares during the period. GoalVest Advisory LLC increased its holdings in Brookfield Asset Management by 9.5% in the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 190 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Brookfield Asset Management by 4.6% in the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock valued at $232,000 after buying an additional 194 shares during the period. Finally, Crescent Grove Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 4.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after buying an additional 200 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.