Brookfield Business Partners (NYSE:BBU) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Brookfield Business Partners (NYSE:BBU) from a hold rating to a strong sell rating in a report issued on Tuesday morning,Zacks.com reports.

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday. National Bankshares increased their price objective on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets boosted their target price on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.67.

Brookfield Business Partners Stock Performance

NYSE:BBU opened at $34.97 on Tuesday. The business’s fifty day moving average is $35.48 and its 200 day moving average is $31.83. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -134.50 and a beta of 1.31. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.41 and a current ratio of 0.27. Brookfield Business Partners has a 52-week low of $18.63 and a 52-week high of $37.38.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Research analysts predict that Brookfield Business Partners will post 5.25 EPS for the current year.

Hedge Funds Weigh In On Brookfield Business Partners

Institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management raised its holdings in shares of Brookfield Business Partners by 74.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock valued at $22,849,000 after buying an additional 297,180 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Brookfield Business Partners by 796.3% in the third quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock worth $10,530,000 after buying an additional 286,872 shares in the last quarter. Credit Industriel ET Commercial bought a new position in Brookfield Business Partners during the third quarter valued at approximately $4,905,000. Legal & General Group Plc bought a new position in Brookfield Business Partners during the second quarter valued at approximately $3,373,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Brookfield Business Partners during the third quarter worth approximately $3,392,000. 85.04% of the stock is currently owned by institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.