Credit Suisse Group Reiterates Outperform Rating for Brookfield Business Partners (NYSE:BBU)

Brookfield Business Partners (NYSE:BBU)‘s stock had its “outperform” rating restated by investment analysts at Credit Suisse Group in a research note issued on Wednesday, Benzinga reports. They presently have a $26.00 price target on the business services provider’s stock. Credit Suisse Group’s target price suggests a potential upside of 72.64% from the stock’s current price.

Separately, National Bankshares cut their target price on shares of Brookfield Business Partners from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th.

Brookfield Business Partners Stock Performance

NYSE BBU opened at $15.06 on Wednesday. The company has a market cap of $1.12 billion, a P/E ratio of 753.38 and a beta of 1.28. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.13 and a quick ratio of 0.83. The stock has a 50-day moving average of $17.22 and a two-hundred day moving average of $17.83. Brookfield Business Partners has a 1-year low of $14.89 and a 1-year high of $24.71.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Tuesday, August 8th. The business services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($1.27). Brookfield Business Partners had a return on equity of 1.71% and a net margin of 0.50%. The firm had revenue of $13.51 billion for the quarter. As a group, analysts anticipate that Brookfield Business Partners will post 3.48 EPS for the current year.

Hedge Funds Weigh In On Brookfield Business Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Brookfield Business Partners by 1.3% in the second quarter. Royal Bank of Canada now owns 8,650,879 shares of the business services provider’s stock valued at $149,054,000 after purchasing an additional 114,754 shares during the last quarter. BROOKFIELD Corp ON increased its stake in Brookfield Business Partners by 2.5% in the second quarter. BROOKFIELD Corp ON now owns 27,973,033 shares of the business services provider’s stock valued at $481,975,000 after purchasing an additional 686,614 shares during the last quarter. Citadel Advisors LLC purchased a new position in Brookfield Business Partners in the second quarter valued at approximately $323,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Brookfield Business Partners by 2.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,017 shares of the business services provider’s stock valued at $465,000 after purchasing an additional 701 shares during the last quarter. Finally, Forge First Asset Management Inc. increased its stake in Brookfield Business Partners by 26.9% in the second quarter. Forge First Asset Management Inc. now owns 597,952 shares of the business services provider’s stock valued at $10,320,000 after purchasing an additional 126,769 shares during the last quarter. 79.81% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.