Brookfield Asset Management (NYSE:BAM) Rating Increased to Strong-Buy at National Bank Financial

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by stock analysts at National Bank Financial to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group dropped their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Scotiabank increased their target price on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Royal Bank Of Canada assumed coverage on shares of Brookfield Asset Management in a report on Wednesday, June 18th. They set an “outperform” rating and a $72.00 target price on the stock. Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company increased their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.63.

Brookfield Asset Management Trading Down 0.2%

NYSE BAM opened at $62.76 on Monday. The company’s 50-day moving average price is $57.02 and its 200-day moving average price is $54.68. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market cap of $102.76 billion, a PE ratio of 44.51, a PEG ratio of 2.44 and a beta of 1.43. Brookfield Asset Management has a 12 month low of $38.18 and a 12 month high of $63.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at approximately $26,000. Rossby Financial LCC purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at approximately $28,000. Truvestments Capital LLC raised its position in shares of Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 432 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 325 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,004 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

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.