Brokerages Set Brookfield Business Partners L.P. (NYSE:BBU) Target Price at $40.67

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have received a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.6667.

Several research analysts have commented on BBU shares. BMO Capital Markets raised their price objective on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 2nd. Desjardins upped their price objective on shares of Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. National Bank Financial increased their target price on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st.

Institutional Trading of Brookfield Business Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in shares of Brookfield Business Partners by 30,100.0% in the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,204 shares in the last quarter. Intact Investment Management Inc. purchased a new position in Brookfield Business Partners in the fourth quarter valued at about $71,000. Guardian Partners Inc. bought a new position in Brookfield Business Partners in the third quarter worth about $221,000. Rathbones Group PLC purchased a new stake in shares of Brookfield Business Partners during the second quarter valued at about $265,000. Finally, Cumberland Partners Ltd purchased a new stake in shares of Brookfield Business Partners during the third quarter valued at about $318,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Trading Down 2.2%

Shares of BBU opened at $33.93 on Wednesday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -130.51 and a beta of 1.31. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 0.19. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $37.75. The company has a 50-day moving average of $35.55 and a 200 day moving average of $32.36.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, January 30th. The business services provider reported ($0.48) EPS 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 company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $3.46 billion. On average, research analysts expect that Brookfield Business Partners will post 5.25 EPS for the current year.

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.