Brookfield Business Partners (NYSE:BBU) Price Target Raised to $32.00

Brookfield Business Partners (NYSE:BBU) had its target price hoisted by stock analysts at Scotiabank from $30.00 to $32.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target indicates a potential upside of 44.47% from the stock’s previous close.

Separately, BMO Capital Markets boosted their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield Business Partners has a consensus rating of “Buy” and an average target price of $32.80.

Brookfield Business Partners Price Performance

Shares of NYSE BBU traded up $0.08 during trading hours on Tuesday, reaching $22.15. 2,861 shares of the stock traded hands, compared to its average volume of 18,469. The company has a market capitalization of $1.65 billion, a P/E ratio of 2.73 and a beta of 1.50. The company’s 50-day simple moving average is $23.50 and its two-hundred day simple moving average is $22.30. The company has a quick ratio of 0.95, a current ratio of 1.17 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.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. The firm had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Equities research analysts forecast that Brookfield Business Partners will post 5.43 EPS for the current year.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds have recently made changes to their positions in the business. Caldwell Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter valued at $1,731,000. Principal Financial Group Inc. boosted its stake in shares of Brookfield Business Partners by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after purchasing an additional 26,947 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Brookfield Business Partners by 12,276.3% during the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after buying an additional 258,662 shares during the period. National Bank of Canada FI raised its stake in Brookfield Business Partners by 20.6% in the third quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider’s stock worth $2,274,000 after buying an additional 16,684 shares in the last quarter. Finally, Brookfield Corp ON lifted its holdings in Brookfield Business Partners by 1.7% in the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock worth $596,538,000 after buying an additional 428,511 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.