Brookfield Business Partners L.P. (NYSE:BBU) Given Average Recommendation of “Hold” by Brokerages

Brookfield Business Partners L.P. (NYSE:BBU) has been assigned a consensus rating of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.8333.

Several brokerages have recently commented on BBU. Zacks Research downgraded Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 30th. Wall Street Zen lowered Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Desjardins increased their target price on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an “outperform” rating in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada upped their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BROOKFIELD Corp ON raised its holdings in shares of Brookfield Business Partners by 72.5% during the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after acquiring an additional 18,549,503 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in 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 valued at $28,344,000 after purchasing an additional 14,981 shares during the last quarter. AGF Management Ltd. boosted 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 buying an additional 126,189 shares during the period. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners in the first quarter valued at approximately $3,997,000. Finally, TD Asset Management Inc increased its position in Brookfield Business Partners by 2.7% during the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock worth $3,625,000 after buying an additional 4,032 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Partners Price Performance

NYSE:BBU opened at $35.32 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.67 and a debt-to-equity ratio of 2.90. The firm has a market cap of $3.13 billion, a PE ratio of -271.68 and a beta of 1.39. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $36.72. The company’s 50-day moving average price is $31.13 and its two-hundred day moving average price is $26.96.

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.