Brookfield Business Partners L.P. (NYSE:BBU) Receives $35.83 Average Target Price from Brokerages

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

BBU has been the topic of a number of analyst reports. Zacks Research cut Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada lifted their price target on Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Desjardins lifted their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, National Bankshares lifted their price target on Brookfield Business Partners from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th.

Brookfield Business Partners Stock Performance

NYSE:BBU opened at $34.67 on Monday. The business has a 50 day moving average of $31.53 and a 200 day moving average of $27.21. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -266.68 and a beta of 1.39. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $36.72. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36.

Institutional Trading of Brookfield Business Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBU. TD Waterhouse Canada Inc. increased its position in Brookfield Business Partners by 1.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock valued at $35,513,000 after purchasing an additional 17,508 shares during the period. Gold Investment Management Ltd. increased its position in Brookfield Business Partners by 5.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 44,270 shares of the business services provider’s stock valued at $1,452,000 after purchasing an additional 2,276 shares during the period. Bank of America Corp DE increased its position in Brookfield Business Partners by 30,100.0% during the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,204 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Brookfield Business Partners during the 2nd quarter valued at $391,000. Finally, Legal & General Group Plc purchased a new position in Brookfield Business Partners during the 2nd quarter valued at $3,373,000. Hedge funds and other institutional investors 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.