Scotiabank Boosts Brookfield Business Partners (NYSE:BBU) Price Target to $39.00

Brookfield Business Partners (NYSE:BBU) had its target price upped by equities research analysts at Scotiabank from $36.00 to $39.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target would indicate a potential upside of 21.14% from the company’s current price.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Brookfield Business Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Desjardins raised their price objective on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Brookfield Business Partners from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $35.17.

Brookfield Business Partners Trading Up 1.4%

Shares of BBU stock opened at $32.20 on Friday. The stock has a 50-day simple moving average of $26.65 and a 200 day simple moving average of $24.79. Brookfield Business Partners has a fifty-two week low of $18.63 and a fifty-two week high of $33.05. The stock has a market capitalization of $2.86 billion, a P/E ratio of -247.65 and a beta of 1.34. The company has a quick ratio of 1.36, a current ratio of 1.67 and a debt-to-equity ratio of 2.90.

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in BBU. BROOKFIELD Corp ON raised its stake in shares of Brookfield Business Partners by 72.5% in the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock valued at $1,035,806,000 after acquiring an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Brookfield Business Partners by 1.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock worth $28,344,000 after purchasing an additional 14,981 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Brookfield Business Partners by 58.2% during the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock worth $8,030,000 after purchasing an additional 126,189 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Brookfield Business Partners by 15.5% during the 4th quarter. Toronto Dominion Bank now owns 301,080 shares of the business services provider’s stock worth $7,091,000 after purchasing an additional 40,311 shares in the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in Brookfield Business Partners in the 1st quarter valued at $3,997,000. 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.