Berkshire Hathaway (NYSE:BRK.B) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Berkshire Hathaway (NYSE:BRK.B) from a hold rating to a buy rating in a research note published on Tuesday, January 9th. The firm currently has $227.00 price target on the financial services provider’s stock.

According to Zacks, “Shares of Berkshire have outperformed the industry year to date. Its inorganic story remains impressive with strategic acquisitions. Continuous investment through strategic buyouts testifies confidence in business environment in the Trump era. The company’s strong cash position allows it to make earnings-accretive bolt-on acquisitions. Demand for utilities is expected to rise in the future and drive earnings growth. Continued insurance business growth also fuels increase in float. A sturdy capital level further adds impetus to the company. However, the company’s insurance business generates maximum return on equity and thus exposure to catastrophe loss remains a concern. Huge capital expenses on account of railroad operations remain headwinds. Capital expenditure is estimated at $2.6 billion for the remainder of 2017. Also there were no earnings momentum over the last 30 days .”

A number of other brokerages also recently commented on BRK.B. Morgan Stanley upped their price objective on shares of Berkshire Hathaway from $181.00 to $189.00 and gave the stock an equal weight rating in a research report on Wednesday, November 8th. Vetr upgraded shares of Berkshire Hathaway from a buy rating to a strong-buy rating and set a $204.74 price target for the company in a report on Monday, September 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Berkshire Hathaway in a report on Thursday, September 14th. They issued an overweight rating and a $210.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Berkshire Hathaway has an average rating of Buy and an average price target of $207.15.

Shares of Berkshire Hathaway (NYSE BRK.B) traded down $8.13 during trading on Tuesday, reaching $209.12. 6,080,000 shares of the company’s stock were exchanged, compared to its average volume of 3,980,000. The stock has a market cap of $516,430.00, a P/E ratio of 0.02, a P/E/G ratio of 3.58 and a beta of 0.87. Berkshire Hathaway has a 52 week low of $160.93 and a 52 week high of $217.62.

Berkshire Hathaway (NYSE:BRK.B) last announced its quarterly earnings data on Friday, November 3rd. The financial services provider reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.48). The firm had revenue of $60.53 billion for the quarter. Berkshire Hathaway had a return on equity of 5.17% and a net margin of 7.73%. sell-side analysts predict that Berkshire Hathaway will post 6.51 EPS for the current fiscal year.

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About Berkshire Hathaway

Berkshire Hathaway Inc is a holding company owning subsidiaries engaged in various business activities. Its segments include Insurance, such as GEICO, Berkshire Hathaway Primary Group, General Re Corporation and Berkshire Hathaway Reinsurance Group; Burlington Northern Santa Fe, LLC, which is engaged in the operation of the railroad system; Berkshire Hathaway Energy, which includes regulated electric and gas utility; Manufacturing, which includes manufacturers of various products, including industrial, consumer and building products; McLane Company, which is engaged in the wholesale distribution of groceries and non-food items; Service and retailing, which includes providers of various services, including fractional aircraft ownership programs, aviation pilot training and various retailing businesses, and Finance and financial products, which includes manufactured housing and related consumer financing, transportation equipment, manufacturing and leasing, and furniture leasing.

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