Brookfield Asset Management (NYSE:BAM) Given a $71.00 Price Target at National Bankshares

Key Points

• National Bankshares has set a price target of $71.00 for Brookfield Asset Management, indicating a potential upside of 13.43% from its current price.
• Multiple research firms have adjusted their ratings on Brookfield, with a consensus rating of "Moderate Buy" and an average price target of $61.63.
• Brookfield Asset Management reported a quarterly EPS of $0.40, matching analyst expectations, despite revenue falling short at $1.04 billion compared to the forecast of $1.29 billion.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A has been assigned a $71.00 price objective by analysts at National Bankshares in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bankshares' price objective would suggest a potential upside of 13.43% from the company's current price.

Several other research firms have also recently commented on BAM. Wells Fargo & Company boosted their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. TD Securities lifted their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley lifted their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Finally, Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average price target of $61.63.

Brookfield Asset Management Stock Down 0.4%

BAM traded down $0.28 on Tuesday, hitting $62.60. 694,901 shares of the company were exchanged, compared to its average volume of 2,108,226. Brookfield Asset Management has a twelve month low of $38.18 and a twelve month high of $63.53. The company has a market cap of $102.50 billion, a price-to-earnings ratio of 44.39, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. 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 firm has a 50-day moving average price of $56.94 and a two-hundred day moving average price of $54.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. On average, 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

Several institutional investors have recently added to or reduced their stakes in BAM. American Century Companies Inc. increased its position in Brookfield Asset Management by 30.5% in the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock valued at $4,033,000 after acquiring an additional 17,369 shares during the period. LPL Financial LLC raised its stake in shares of Brookfield Asset Management by 12.8% during the 4th quarter. LPL Financial LLC now owns 52,181 shares of the financial services provider's stock worth $2,828,000 after buying an additional 5,934 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Brookfield Asset Management by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,550,083 shares of the financial services provider's stock worth $83,999,000 after buying an additional 30,892 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Brookfield Asset Management by 39.9% during the 4th quarter. Blair William & Co. IL now owns 27,037 shares of the financial services provider's stock worth $1,465,000 after buying an additional 7,716 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $18,785,000. Institutional investors and hedge funds own 68.41% of the company's stock.

About Brookfield Asset Management

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.

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