Brookfield Business Partners L.P. (NYSE:BBU) Receives $29.67 Average Target Price from Brokerages

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.67.

BBU has been the topic of several research reports. BMO Capital Markets upped their price target on Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Scotiabank raised their target price on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a report on Monday, February 5th. Desjardins raised their price target on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 5th. TheStreet cut Brookfield Business Partners from a “c” rating to a “d+” rating in a research note on Wednesday, March 13th. Finally, National Bankshares boosted their target price on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 5th.

Brookfield Business Partners Stock Performance

NYSE:BBU opened at $18.89 on Friday. 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 1-year low of $12.22 and a 1-year high of $23.75. The firm has a 50-day moving average of $20.66 and a two-hundred day moving average of $19.29. The stock has a market cap of $1.40 billion, a P/E ratio of 2.96 and a beta of 1.44.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, February 2nd. The business services provider reported $6.57 earnings per share for the quarter, topping the consensus estimate of $0.90 by $5.67. The company had revenue of $13.41 billion during the quarter. Brookfield Business Partners had a net margin of 6.86% and a return on equity of 21.74%. During the same period in the prior year, the business earned $1.49 earnings per share. On average, research analysts expect that Brookfield Business Partners will post 3.95 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Business Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in Brookfield Business Partners by 35.7% during the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 23,258 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Business Partners in the 1st quarter valued at approximately $1,405,000. Partners Value Investments L.P. lifted its position in shares of 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 valued at $60,527,000 after acquiring an additional 19,061 shares in the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of Brookfield Business Partners in the 4th quarter valued at approximately $2,033,000. Finally, Gold Investment Management Ltd. purchased a new stake in shares of Brookfield Business Partners in the 4th quarter valued at approximately $618,000. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Partners Company Profile

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.