Brookfield Business Partners (NYSE:BBU) Price Target Raised to $39.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its target price for Brookfield Business Partners from $35.00 to $39.00, suggesting a potential upside of 22.51% based on the company's previous closing price.
• Multiple analysts have provided positive outlooks on the stock, with a consensus rating of "Buy" and a consensus target price of $35.83, while institutional investors hold 85.04% of the company's stock.
• Brookfield Business Partners shares recently traded down 1.1%, with the stock prices fluctuating between a twelve-month low of $18.63 and a high of $33.05.

Brookfield Business Partners (NYSE:BBU - Get Free Report) had its target price raised by analysts at Royal Bank Of Canada from $35.00 to $39.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the business services provider's stock. Royal Bank Of Canada's target price points to a potential upside of 22.51% from the company's previous close.

A number of other equities research analysts have also recently issued reports on BBU. Desjardins upped their target price on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank reiterated an "outperform" rating on shares of Brookfield Business Partners in a research note on Friday. National Bankshares increased their target price on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Wall Street Zen lowered shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Brookfield Business Partners presently has a consensus rating of "Buy" and a consensus target price of $35.83.

Brookfield Business Partners Trading Down 1.1%

Shares of BBU stock traded down $0.37 on Monday, hitting $31.83. The stock had a trading volume of 6,547 shares, compared to its average volume of 23,253. Brookfield Business Partners has a twelve month low of $18.63 and a twelve month high of $33.05. The firm has a market cap of $2.82 billion, a P/E ratio of -243.65 and a beta of 1.34. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. The company has a fifty day moving average price of $26.65 and a two-hundred day moving average price of $24.81.

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBU. Bank of America Corp DE lifted its stake in Brookfield Business Partners by 30,100.0% in 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 last quarter. Rathbones Group PLC bought a new position in shares of Brookfield Business Partners during the second quarter valued at $265,000. Northwest & Ethical Investments L.P. bought a new position in shares of Brookfield Business Partners during the second quarter valued at $391,000. Bank of New York Mellon Corp raised its stake in shares of Brookfield Business Partners by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after acquiring an additional 2,078 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its stake in shares of Brookfield Business Partners by 20.9% during the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock valued at $921,000 after acquiring an additional 6,791 shares during the last quarter. Institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Company Profile

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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