Brookfield Business Partners (NYSE:BBU) Price Target Raised to $39.00 at National Bankshares

Key Points

• National Bankshares has raised the price target for Brookfield Business Partners from $33.00 to $39.00, signaling a potential upside of 19.07% from the current stock price.
• Brookfield Business Partners shares are currently rated as a "Buy" by five equities research analysts, with an average target price of $35.17.
• Significant institutional activity includes Bank of America increasing its stake by 30,100% and hedge funds owning 85.04% of the company's stock.

Brookfield Business Partners (NYSE:BBU - Get Free Report) had its price target raised by National Bankshares from $33.00 to $39.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the business services provider's stock. National Bankshares' target price would suggest a potential upside of 19.07% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada boosted their price objective on shares of Brookfield Business Partners from $33.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Desjardins lifted their target price on Brookfield Business Partners from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Brookfield Business Partners in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $35.17.

Brookfield Business Partners Stock Up 3.2%

Shares of BBU stock traded up $1.01 during mid-day trading on Friday, hitting $32.76. 82,341 shares of the stock traded hands, compared to its average volume of 22,963. The stock has a market cap of $2.91 billion, a P/E ratio of -251.88 and a beta of 1.34. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. The stock's fifty day moving average is $26.52 and its two-hundred day moving average is $24.70. Brookfield Business Partners has a 52-week low of $18.63 and a 52-week high of $33.05.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its stake 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 worth $31,000 after buying an additional 1,204 shares during the last quarter. Rathbones Group PLC acquired a new stake in shares of Brookfield Business Partners during the second quarter worth $265,000. Northwest & Ethical Investments L.P. acquired a new position in Brookfield Business Partners during the second quarter valued at $391,000. Bank of New York Mellon Corp increased its position in Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock worth $465,000 after purchasing an additional 2,078 shares during the last quarter. Finally, Gold Investment Management Ltd. increased its position in Brookfield Business Partners by 20.9% in the 1st quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock worth $921,000 after purchasing an additional 6,791 shares during 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.

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