Brookfield Business Partners (BBU) PT Set at $48.00 by Royal Bank of Canada

Brookfield Business Partners (NYSE:BBU) has been assigned a $48.00 target price by equities researchers at Royal Bank of Canada in a research note issued on Thursday. The firm currently has a “buy” rating on the business services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.19% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on BBU. ValuEngine upgraded Brookfield Business Partners from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. Scotiabank assumed coverage on Brookfield Business Partners in a research note on Wednesday, September 19th. They issued a “hold” rating and a $49.00 price objective for the company. Finally, Credit Suisse Group set a $54.00 price objective on Brookfield Business Partners and gave the company a “buy” rating in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $49.25.

NYSE BBU traded up $0.20 on Thursday, reaching $43.17. The stock had a trading volume of 448 shares, compared to its average volume of 16,880. The company has a current ratio of 1.29, a quick ratio of 1.08 and a debt-to-equity ratio of 0.90. Brookfield Business Partners has a 12-month low of $29.00 and a 12-month high of $45.66.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, August 3rd. The business services provider reported $0.92 earnings per share for the quarter. Brookfield Business Partners had a return on equity of 8.81% and a net margin of 0.89%. The company had revenue of $8.78 billion during the quarter.

Several large investors have recently added to or reduced their stakes in BBU. Acadian Asset Management LLC increased its holdings in shares of Brookfield Business Partners by 81.0% in the second quarter. Acadian Asset Management LLC now owns 635,128 shares of the business services provider’s stock valued at $24,328,000 after purchasing an additional 284,200 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Business Partners by 12.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,373,001 shares of the business services provider’s stock valued at $49,442,000 after purchasing an additional 150,157 shares during the period. Fiera Capital Corp increased its holdings in shares of Brookfield Business Partners by 211.9% in the second quarter. Fiera Capital Corp now owns 220,385 shares of the business services provider’s stock valued at $8,448,000 after purchasing an additional 149,735 shares during the period. Overbrook Management Corp acquired a new position in shares of Brookfield Business Partners in the first quarter valued at approximately $4,881,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Brookfield Business Partners by 51.9% in the first quarter. Hillsdale Investment Management Inc. now owns 274,400 shares of the business services provider’s stock valued at $9,889,000 after purchasing an additional 93,800 shares during the period. 75.63% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Business Partners

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