Scotiabank Boosts Brookfield Business Partners (NYSE:BBU) Price Target to $31.00

Brookfield Business Partners (NYSE:BBU - Get Free Report) had its price objective increased by investment analysts at Scotiabank from $29.00 to $31.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the business services provider's stock. Scotiabank's price target points to a potential upside of 18.23% from the company's current price.

A number of other equities analysts have also issued reports on the stock. Royal Bank Of Canada began coverage on shares of Brookfield Business Partners in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $33.00 target price for the company. National Bankshares decreased 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 research report on Wednesday, April 30th. Finally, CIBC decreased their target price on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $32.00.

Brookfield Business Partners Stock Performance

Shares of NYSE:BBU traded down $0.94 on Friday, reaching $26.22. 28,459 shares of the company's stock were exchanged, compared to its average volume of 16,463. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -77.12 and a beta of 1.32. Brookfield Business Partners has a fifty-two week low of $17.88 and a fifty-two week high of $27.37. The business's 50-day moving average is $24.74 and its two-hundred day moving average is $23.37. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 2.97.

Institutional Trading of Brookfield Business Partners

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in Brookfield Business Partners by 64.7% in the fourth quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock worth $1,485,000 after buying an additional 24,755 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Brookfield Business Partners by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after acquiring an additional 1,146 shares during the last quarter. PCJ Investment Counsel Ltd. grew its stake in shares of Brookfield Business Partners by 6.6% in 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Brookfield Business Partners by 8.9% in 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 acquiring an additional 1,448 shares during the last quarter. Finally, Gold Investment Management Ltd. lifted its position in Brookfield Business Partners by 3.2% in the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock worth $767,000 after purchasing an additional 1,017 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.