Analysts Set Brookfield Business Partners L.P. (NYSE:BBU) PT at $31.00

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have been given a consensus rating of “Buy” by the five ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $31.00.

BBU has been the topic of a number of recent research reports. Scotiabank lowered their target price on Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada dropped their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. CIBC dropped their price target on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, April 28th. Finally, National Bankshares decreased their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AGF Management Ltd. purchased a new position in Brookfield Business Partners in the 4th quarter valued at about $5,111,000. Forge First Asset Management Inc. lifted its position in shares of Brookfield Business Partners by 48.3% in the fourth quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock valued at $12,538,000 after acquiring an additional 173,500 shares in the last quarter. Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Business Partners in the first quarter worth approximately $3,997,000. NewGen Asset Management Ltd acquired a new stake in shares of Brookfield Business Partners in the fourth quarter worth approximately $2,356,000. Finally, PCJ Investment Counsel Ltd. increased its position in shares of Brookfield Business Partners by 6.6% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider’s stock worth $38,041,000 after purchasing an additional 99,763 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Stock Up 2.1 %

BBU stock opened at $22.35 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a 52 week low of $16.85 and a 52 week high of $26.75. The stock has a market capitalization of $2.00 billion, a PE ratio of -45.61 and a beta of 1.34. The firm has a 50 day moving average of $22.35 and a 200 day moving average of $23.08.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. Sell-side analysts forecast that Brookfield Business Partners will post 5.25 earnings per share for the current year.

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.