Brookfield (NYSE:BN) Downgraded by Zacks Research to Hold

Brookfield (NYSE:BN) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

BN has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. National Bankshares set a $54.67 price objective on shares of Brookfield and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Scotiabank upped their price objective on shares of Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Brookfield in a research report on Tuesday, September 2nd. They set a “buy” rating and a $52.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Buy” and a consensus target price of $52.63.

Brookfield Stock Performance

NYSE BN opened at $43.64 on Wednesday. The company’s 50 day moving average is $45.68 and its 200-day moving average is $42.76. The firm has a market cap of $108.01 billion, a P/E ratio of 152.24 and a beta of 1.73. Brookfield has a 12-month low of $29.07 and a 12-month high of $49.47. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BN. Brown Brothers Harriman & Co. boosted its holdings in Brookfield by 21.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 45,849 shares of the company’s stock valued at $3,144,000 after acquiring an additional 8,200 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Brookfield by 29.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,610,707 shares of the company’s stock worth $110,492,000 after buying an additional 366,489 shares during the period. Ravenswood Partners LP bought a new stake in Brookfield during the 3rd quarter valued at about $3,503,000. Legacy Advisors LLC bought a new position in Brookfield in the 3rd quarter worth about $202,000. Finally, Johnson Financial Group Inc. raised its stake in shares of Brookfield by 348.2% during the third quarter. Johnson Financial Group Inc. now owns 2,304 shares of the company’s stock valued at $158,000 after acquiring an additional 1,790 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.