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

Brookfield Business Partners (NYSE:BBU) had its target price lifted by analysts at Scotiabank from $39.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price objective suggests a potential upside of 8.78% from the company’s current price.

A number of other research analysts have also commented on BBU. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday. Zacks Research upgraded shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. National Bankshares upped their price objective on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Brookfield Business Partners in a research report on Friday. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Business Partners presently has an average rating of “Moderate Buy” and an average target price of $37.20.

Brookfield Business Partners Stock Performance

NYSE:BBU traded up $1.75 during midday trading on Monday, reaching $36.77. The stock had a trading volume of 6,844 shares, compared to its average volume of 27,888. The stock has a market capitalization of $3.23 billion, a P/E ratio of -141.42 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. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.71 and a quick ratio of 1.41. The firm’s fifty day simple moving average is $35.29 and its 200-day simple moving average is $31.64.

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

Institutional Trading of Brookfield Business Partners

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,204 shares during the period. Guardian Partners Inc. acquired a new stake in shares of Brookfield Business Partners during the 3rd quarter worth approximately $221,000. Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners during the second quarter worth approximately $265,000. Cumberland Partners Ltd acquired a new position in Brookfield Business Partners in the third quarter valued at approximately $318,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Brookfield Business Partners in the second quarter valued at approximately $391,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.