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

Brookfield Business Partners (NYSE:BBU - Get Free Report) had its price objective hoisted by stock analysts at Scotiabank from $29.00 to $31.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the business services provider's stock. Scotiabank's price objective would suggest a potential upside of 14.14% from the company's previous close.

Several other equities research analysts have also recently commented on the company. CIBC cut their price target on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a report on Monday, April 28th. National Bankshares dropped their target price on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada initiated coverage on Brookfield Business Partners in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $33.00 target price for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $32.00.

Brookfield Business Partners Price Performance

BBU traded up $0.99 on Friday, hitting $27.16. 8,655 shares of the company's stock were exchanged, compared to its average volume of 16,461. Brookfield Business Partners has a fifty-two week low of $17.87 and a fifty-two week high of $27.24. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -79.88 and a beta of 1.32. The firm has a 50-day moving average price of $24.54 and a 200-day moving average price of $23.31. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 2.97.

Hedge Funds Weigh In On Brookfield Business Partners

Several large investors have recently modified their holdings of BBU. Intact Investment Management Inc. raised its stake in shares of Brookfield Business Partners by 52.6% in the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock valued at $68,000 after acquiring an additional 1,000 shares during the period. BBR Partners LLC purchased a new stake in Brookfield Business Partners in the fourth quarter valued at approximately $241,000. Bank of New York Mellon Corp raised its position in 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 valued at $415,000 after purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. lifted its stake in Brookfield Business Partners by 3.2% during 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 period. Institutional investors and hedge funds 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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