Brookfield Business Partners (NYSE:BBU) Price Target Cut to $31.00

Brookfield Business Partners (NYSE:BBU) had its target price decreased by investment analysts at Royal Bank of Canada from $32.00 to $31.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 63.24% from the company’s previous close.

A number of other equities analysts also recently commented on the company. BMO Capital Markets upped their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday. Scotiabank lifted their target price on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a research note on Monday, February 5th. National Bankshares increased their price target on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Desjardins raised their price objective on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, TheStreet downgraded Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $30.33.

Brookfield Business Partners Trading Up 0.5 %

Brookfield Business Partners stock traded up $0.10 during trading hours on Monday, reaching $18.99. The stock had a trading volume of 16,017 shares, compared to its average volume of 15,279. The stock has a market cap of $1.41 billion, a PE ratio of 2.98 and a beta of 1.44. The company has a fifty day simple moving average of $20.66 and a 200-day simple moving average of $19.29. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.04 and a quick ratio of 0.78. Brookfield Business Partners has a 52 week low of $12.22 and a 52 week high of $23.75.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, February 2nd. The business services provider reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $5.67. The company had revenue of $13.41 billion for the quarter. Brookfield Business Partners had a return on equity of 21.72% and a net margin of 7.08%. During the same period in the previous year, the business earned $1.49 earnings per share. Analysts forecast that Brookfield Business Partners will post 3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BBU. Principal Financial Group Inc. grew its stake in shares of Brookfield Business Partners by 35.7% in the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 23,258 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in Brookfield Business Partners in the 1st quarter worth about $1,405,000. Partners Value Investments L.P. boosted its stake in Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock worth $60,527,000 after purchasing an additional 19,061 shares in the last quarter. K2 Principal Fund L.P. purchased a new stake in Brookfield Business Partners during the 4th quarter valued at about $2,033,000. Finally, Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners during the 4th quarter valued at about $618,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.