Scotiabank Has Lowered Expectations for Brookfield Business Partners (NYSE:BBU) Stock Price

Brookfield Business Partners (NYSE:BBU) had its price target lowered by equities research analysts at Scotiabank from $31.00 to $30.00 in a report released on Tuesday, Marketbeat.com reports. The brokerage presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price objective indicates a potential upside of 18.76% from the company’s current price.

A number of other equities analysts also recently issued reports on BBU. CIBC lowered their price target on Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, April 28th. Royal Bank Of Canada increased their price target on Brookfield Business Partners from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wall Street Zen downgraded Brookfield Business Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, National Bankshares reduced their target price on Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Business Partners presently has an average rating of “Moderate Buy” and an average target price of $32.50.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $25.26 on Tuesday. The company has a market capitalization of $2.24 billion, a P/E ratio of -194.31 and a beta of 1.38. The business’s 50 day moving average is $25.45 and its two-hundred day moving average is $23.79. The company has a current ratio of 0.49, a quick ratio of 1.21 and a debt-to-equity ratio of 2.97. Brookfield Business Partners has a 12-month low of $18.45 and a 12-month high of $27.47.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently made changes to their positions in BBU. National Bank of Canada FI increased its holdings in shares of Brookfield Business Partners by 63.8% in the fourth quarter. National Bank of Canada FI now owns 159,883 shares of the business services provider’s stock valued at $3,775,000 after purchasing an additional 62,299 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Brookfield Business Partners by 64.7% in the fourth quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider’s stock valued at $1,485,000 after purchasing an additional 24,755 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Brookfield Business Partners by 11.3% in the fourth quarter. Bank of Montreal Can now owns 928,564 shares of the business services provider’s stock valued at $21,871,000 after purchasing an additional 94,052 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Brookfield Business Partners by 2.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,020,778 shares of the business services provider’s stock valued at $22,506,000 after purchasing an additional 22,713 shares during the last quarter. Finally, NewGen Asset Management Ltd acquired a new stake in shares of Brookfield Business Partners in the fourth quarter valued at approximately $2,356,000. 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.