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

Brookfield Business Partners (NYSE:BBU) had its target price cut by stock analysts at Royal Bank of Canada from $32.00 to $31.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 63.59% from the stock’s current price.

BBU has been the subject of several other research reports. National Bankshares raised their price target on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets raised their price objective on shares of Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday. TheStreet lowered shares of Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Scotiabank raised their price objective on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a report on Monday, February 5th. Finally, Desjardins raised their price objective on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, February 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Brookfield Business Partners currently has a consensus rating of “Buy” and an average target price of $30.33.

Brookfield Business Partners Stock Performance

NYSE:BBU opened at $18.95 on Monday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.78 and a current ratio of 1.04. Brookfield Business Partners has a fifty-two week low of $12.22 and a fifty-two week high of $23.75. The stock has a market capitalization of $1.41 billion, a P/E ratio of 2.97 and a beta of 1.44. The company has a 50 day moving average price of $20.55 and a 200 day moving average price of $19.35.

Institutional Trading of Brookfield Business Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in shares of Brookfield Business Partners in the third quarter valued at about $476,000. Gold Investment Management Ltd. purchased a new stake in shares of Brookfield Business Partners in the fourth quarter valued at about $618,000. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Business Partners by 77.9% in the third quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock valued at $991,000 after acquiring an additional 28,541 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Brookfield Business Partners by 44.1% in the fourth quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock valued at $1,039,000 after acquiring an additional 15,344 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Brookfield Business Partners by 19.3% in the third quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock valued at $1,229,000 after acquiring an additional 13,155 shares in the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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.