Brookfield Business Partners (NYSE:BBU - Get Free Report) had its target price reduced by CIBC from $34.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperformer" rating on the business services provider's stock. CIBC's price objective would indicate a potential upside of 39.89% from the stock's current price.
BBU has been the subject of several other research reports. Scotiabank cut their price target on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating for the company in a report on Thursday. Royal Bank of Canada decreased their target price on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, BMO Capital Markets raised their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $30.75.
Get Our Latest Research Report on BBU
Brookfield Business Partners Stock Down 1.1 %
Shares of Brookfield Business Partners stock traded down $0.25 during trading hours on Monday, reaching $21.45. 9,803 shares of the company were exchanged, compared to its average volume of 15,157. The stock's fifty day moving average is $22.66 and its 200 day moving average is $23.15. The firm has a market cap of $1.92 billion, a PE ratio of -43.76 and a beta of 1.34. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75.
Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. As a group, equities research analysts forecast that Brookfield Business Partners will post 5.25 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Brookfield Business Partners by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider's stock valued at $2,731,000 after acquiring an additional 26,947 shares in the last quarter. Caldwell Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter valued at approximately $1,731,000. Russell Investments Group Ltd. boosted its holdings in Brookfield Business Partners by 64.7% in the 4th 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 period. PCJ Investment Counsel Ltd. raised its stake in Brookfield Business Partners by 6.6% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider's stock worth $38,041,000 after acquiring an additional 99,763 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Brookfield Business Partners by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock worth $415,000 after purchasing an additional 1,448 shares during the period. Institutional investors and hedge funds own 85.04% of the company's stock.
About Brookfield Business Partners
(
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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.
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