Brookfield Business Partners (NYSE:BBU) Given New $31.00 Price Target at BMO Capital Markets

Brookfield Business Partners (NYSE:BBU) had its target price hoisted by investment analysts at BMO Capital Markets from $30.00 to $31.00 in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 63.59% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. National Bankshares raised their price objective on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. TheStreet lowered Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Desjardins raised their price objective on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Scotiabank increased their target price on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.33.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $18.95 on Monday. The stock’s 50-day moving average is $20.55 and its two-hundred day moving average is $19.35. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 2.97 and a beta of 1.44. Brookfield Business Partners has a 1 year low of $12.22 and a 1 year high of $23.75. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.78 and a current ratio of 1.04.

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds have recently added to or reduced their stakes in BBU. Royal Bank of Canada lifted its position in Brookfield Business Partners by 1.5% in the third quarter. Royal Bank of Canada now owns 8,779,849 shares of the business services provider’s stock valued at $133,455,000 after purchasing an additional 128,970 shares during the period. K2 Principal Fund L.P. acquired a new stake in Brookfield Business Partners in the fourth quarter valued at about $2,033,000. Triasima Portfolio Management inc. acquired a new stake in Brookfield Business Partners in the first quarter valued at about $1,405,000. Hsbc Holdings PLC acquired a new stake in shares of Brookfield Business Partners during the 3rd quarter valued at approximately $476,000. Finally, Gold Investment Management Ltd. acquired a new stake in shares of Brookfield Business Partners during the 4th quarter valued at approximately $618,000. Institutional investors and hedge funds 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.