Brookfield Asset Management (NYSE:BAM) Upgraded by Zacks Research to “Strong-Buy” Rating

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

Several other analysts have also recently issued reports on the stock. Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Monday, December 15th. UBS Group set a $52.00 price target on Brookfield Asset Management in a research report on Friday. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Loop Capital set a $60.00 target price on Brookfield Asset Management in a report on Tuesday, January 6th. Finally, BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.65.

Brookfield Asset Management Trading Up 1.1%

NYSE BAM opened at $50.60 on Thursday. The company has a market cap of $82.88 billion, a P/E ratio of 33.29, a P/E/G ratio of 1.82 and a beta of 1.40. Brookfield Asset Management has a 12 month low of $41.78 and a 12 month 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. The company has a 50-day moving average of $52.10 and a 200-day moving average of $54.91.

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

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 432 shares during the period. Zions Bancorporation National Association UT grew its holdings in Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares in the last quarter. Manchester Capital Management LLC increased its stake in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after buying an additional 442 shares during the period. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management in the 4th quarter worth $31,000. Finally, Sagard Holdings Management Inc. acquired a new position in Brookfield Asset Management in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.