Brookfield Business Partners (NYSE:BBU) was upgraded by investment analysts at Credit Suisse Group from a "neutral" rating to an "outperform" rating in a research note issued to investors on Friday, Briefing.com reports. The firm presently has a $52.00 price target on the business services provider's stock. Credit Suisse Group's price objective suggests a potential upside of 19.21% from the company's previous close.
Several other research firms have also weighed in on BBU. TheStreet raised shares of Brookfield Business Partners from a "d" rating to a "c-" rating in a report on Wednesday, May 5th. Zacks Investment Research cut shares of Brookfield Business Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, May 4th. Industrial Alliance Securities started coverage on shares of Brookfield Business Partners in a research note on Friday, May 21st. They set a "buy" rating on the stock. National Bankshares increased their price target on shares of Brookfield Business Partners from $50.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, May 6th. Finally, Royal Bank of Canada increased their price objective on Brookfield Business Partners from $53.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, May 7th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The company currently has an average rating of "Buy" and a consensus price target of $51.00.
BBU stock opened at $43.62 on Friday. The stock has a 50 day moving average of $43.80. The firm has a market cap of $3.43 billion, a PE ratio of 13.30 and a beta of 1.64. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 1.57. Brookfield Business Partners has a 52 week low of $25.68 and a 52 week high of $49.11.
Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Tuesday, May 4th. The business services provider reported $3.57 EPS for the quarter, beating the consensus estimate of $1.68 by $1.89. Brookfield Business Partners had a net margin of 5.41% and a return on equity of 18.27%. Sell-side analysts anticipate that Brookfield Business Partners will post 8.96 earnings per share for the current year.
In related news, Director Gp Ltd Bcp sold 20,000,000 shares of Brookfield Business Partners stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $13.31, for a total transaction of $266,200,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of large investors have recently modified their holdings of BBU. Steward Partners Investment Advisory LLC boosted its stake in Brookfield Business Partners by 1,200.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the business services provider's stock worth $49,000 after buying an additional 1,200 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Brookfield Business Partners by 761.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,654 shares of the business services provider's stock worth $62,000 after buying an additional 1,462 shares during the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in shares of Brookfield Business Partners in the 1st quarter valued at about $202,000. Hudson Value Partners LLC acquired a new position in shares of Brookfield Business Partners in the 4th quarter valued at about $231,000. Finally, UBS Group AG lifted its position in Brookfield Business Partners by 32.6% during the 1st quarter. UBS Group AG now owns 6,175 shares of the business services provider's stock worth $248,000 after acquiring an additional 1,519 shares in the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
About Brookfield Business Partners
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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