Brookfield Business Partners (NYSE:BBU) Price Target Lowered to $30.00 at Scotiabank

Key Points

• Scotiabank has lowered its target price for Brookfield Business Partners from $31.00 to $30.00, indicating a potential upside of 19.24% from its current price.
• Other analysts, including Royal Bank of Canada and National Bankshares, have varied their price targets, with RBC raising it to $35.00 while National Bankshares decreased it to $32.00.
• Institutional investors hold a significant 85.04% of Brookfield's stock, with notable increases in holdings by firms like Bank of New York Mellon Corp and Russell Investments Group Ltd.

Brookfield Business Partners (NYSE:BBU - Get Free Report) had its target price dropped by investment analysts at Scotiabank from $31.00 to $30.00 in a research note issued on Tuesday, Marketbeat reports. The brokerage presently has an "outperform" rating on the business services provider's stock. Scotiabank's price target points to a potential upside of 19.49% from the company's previous close.

A number of other brokerages also recently issued reports on BBU. Royal Bank Of Canada upped their price target on Brookfield Business Partners from $33.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday. National Bankshares lowered their target price on shares of Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. CIBC decreased their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research note on Monday, April 28th. Finally, Wall Street Zen cut Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.50.

Brookfield Business Partners Trading Down 0.6%

Shares of NYSE:BBU traded down $0.15 during mid-day trading on Tuesday, reaching $25.11. 18,401 shares of the company were exchanged, compared to its average volume of 19,008. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -193.12 and a beta of 1.38. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.49 and a quick ratio of 1.21. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $27.47. The firm's 50-day simple moving average is $25.45 and its 200 day simple moving average is $23.79.

Institutional Trading of Brookfield Business Partners

A number of institutional investors and hedge funds have recently made changes to their positions in BBU. Rathbones Group PLC acquired a new position in Brookfield Business Partners in the second quarter worth about $265,000. Bank of New York Mellon Corp lifted its holdings in Brookfield Business Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after purchasing an additional 2,078 shares during the last quarter. Gold Investment Management Ltd. boosted its position in Brookfield Business Partners by 20.9% in the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock valued at $921,000 after buying an additional 6,791 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Brookfield Business Partners by 2.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after buying an additional 1,146 shares during the last quarter. Finally, K2 Principal Fund L.P. increased its holdings in shares of Brookfield Business Partners by 5.8% during the fourth quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock worth $1,227,000 after buying an additional 2,880 shares in the last quarter. Institutional investors and hedge funds 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.