Brookfield Business Partners (NYSE:BBU) Price Target Raised to $40.00

Brookfield Business Partners (NYSE:BBU) had its price target increased by Scotiabank from $39.00 to $40.00 in a report issued on Monday morning, Marketbeat.com reports. The brokerage currently has a sector outperform rating on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Zacks Research raised Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. National Bankshares increased their price objective on Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. BMO Capital Markets lifted their target price on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada upped their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Monday. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Business Partners has an average rating of “Moderate Buy” and an average price target of $40.67.

Brookfield Business Partners Stock Performance

BBU opened at $35.89 on Monday. The business has a 50 day moving average price of $35.45 and a two-hundred day moving average price of $31.81. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 1.41. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -138.04 and a beta of 1.31. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $37.38.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing the consensus estimate of $1.38 by ($1.86). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $3.46 billion. Research analysts predict that Brookfield Business Partners will post 5.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management lifted its position in shares of Brookfield Business Partners by 74.4% in the third quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock worth $22,849,000 after purchasing an additional 297,180 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Brookfield Business Partners by 796.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock valued at $10,530,000 after buying an additional 286,872 shares during the period. Credit Industriel ET Commercial purchased a new stake in Brookfield Business Partners in the 3rd quarter worth approximately $4,905,000. Legal & General Group Plc acquired a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $3,373,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Brookfield Business Partners during the 3rd quarter valued at $3,392,000. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.