Brookfield Business Partners (NYSE:BBU) Price Target Raised to $43.00

Brookfield Business Partners (NYSE:BBU) had its price objective raised by Desjardins from $41.00 to $43.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the business services provider’s stock.

Other research analysts have also issued reports about the stock. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday. Zacks Research upgraded Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. BMO Capital Markets boosted their target price on shares of Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. National Bankshares raised 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 note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.67.

Brookfield Business Partners Trading Up 1.2%

Shares of BBU stock opened at $35.89 on Monday. The company has a market capitalization of $3.15 billion, a P/E ratio of -138.04 and a beta of 1.31. The company has a current ratio of 0.27, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84. The business’s 50 day moving average is $35.45 and its two-hundred day moving average is $31.81. Brookfield Business Partners has a twelve month low of $18.63 and a twelve month high of $37.38.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data 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). The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. Equities analysts forecast that Brookfield Business Partners will post 5.25 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of Brookfield Business Partners by 0.6% during the 3rd quarter. Legal & General Group Plc now owns 130,620 shares of the business services provider’s stock valued at $4,285,000 after buying an additional 726 shares during the period. Gold Investment Management Ltd. boosted its holdings in Brookfield Business Partners by 1.8% in the fourth quarter. Gold Investment Management Ltd. now owns 45,074 shares of the business services provider’s stock valued at $1,595,000 after acquiring an additional 804 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 valued at $31,000 after acquiring an additional 1,204 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of Brookfield Business Partners in the 4th quarter worth about $71,000. Finally, Rathbones Group PLC lifted its stake in shares of Brookfield Business Partners by 31.3% in the 4th quarter. Rathbones Group PLC now owns 13,437 shares of the business services provider’s stock valued at $473,000 after purchasing an additional 3,207 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Business Partners

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.