Brookfield Business Partners (NYSE:BBU) Price Target Cut to $31.00

Brookfield Business Partners (NYSE:BBU) had its price objective dropped by research analysts at Royal Bank of Canada from $32.00 to $31.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 63.59% from the stock’s current price.

Several other brokerages have also weighed in on BBU. National Bankshares upped their target price on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Desjardins upped their target price on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. BMO Capital Markets upped their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. Scotiabank upped their target price on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 5th. Finally, TheStreet lowered Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $30.33.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $18.95 on Monday. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.04 and a quick ratio of 0.78. Brookfield Business Partners has a fifty-two week low of $12.22 and a fifty-two week high of $23.75. 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 P/E ratio of 2.97 and a beta of 1.44.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBU. Hsbc Holdings PLC acquired a new stake in Brookfield Business Partners in the 3rd quarter valued at approximately $476,000. Gold Investment Management Ltd. acquired a new stake in Brookfield Business Partners in the 4th quarter valued at approximately $618,000. Principal Financial Group Inc. grew its holdings in Brookfield Business Partners by 77.9% in the 3rd quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock valued at $991,000 after buying an additional 28,541 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Brookfield Business Partners by 44.1% in the 4th quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock valued at $1,039,000 after buying an additional 15,344 shares during the last quarter. Finally, Scotia Capital Inc. grew its holdings in Brookfield Business Partners by 19.3% in the 3rd quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock valued at $1,229,000 after buying an additional 13,155 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

About Brookfield Business Partners

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.