Brookfield Business Partners (NYSE:BBU) Price Target Raised to $44.00

Brookfield Business Partners (NYSE:BBU) had its target price raised by National Bankshares from $43.00 to $44.00 in a research report report published on Tuesday morning,BayStreet.CA reports. National Bankshares currently has an outperform rating on the business services provider’s stock.

Several other brokerages have also issued reports on BBU. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Desjardins raised their target price on shares of Brookfield Business Partners from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a report on Monday. Zacks Research upgraded Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, BMO Capital Markets raised their price objective on Brookfield Business Partners from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Brookfield Business Partners currently has an average rating of “Hold” and an average price target of $40.67.

Brookfield Business Partners Price Performance

Brookfield Business Partners stock opened at $34.97 on Tuesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.41 and a current ratio of 0.27. Brookfield Business Partners has a 52 week low of $18.63 and a 52 week high of $37.38. The stock has a market capitalization of $3.07 billion, a P/E ratio of -134.50 and a beta of 1.31. The stock has a fifty day moving average of $35.48 and a 200-day moving average of $31.83.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $3.46 billion. Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. On average, sell-side analysts expect that Brookfield Business Partners will post 5.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Business Partners

A number of institutional investors have recently made changes to their positions in the stock. PCJ Investment Counsel Ltd. raised its position in shares of Brookfield Business Partners by 5.3% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,338,079 shares of the business services provider’s stock worth $43,786,000 after acquiring an additional 67,295 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Brookfield Business Partners by 1.6% in the third quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock valued at $35,513,000 after acquiring an additional 17,508 shares during the last quarter. Picton Mahoney Asset Management increased its position in Brookfield Business Partners by 74.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock valued at $22,849,000 after purchasing an additional 297,180 shares during the period. Bank of Montreal Can raised its holdings in Brookfield Business Partners by 14.4% during the 3rd quarter. Bank of Montreal Can now owns 553,148 shares of the business services provider’s stock worth $18,140,000 after purchasing an additional 69,657 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Brookfield Business Partners by 796.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock worth $10,530,000 after purchasing an additional 286,872 shares during the last quarter. Institutional investors own 85.04% of the company’s stock.

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.