Weiss Ratings Reaffirms "Sell (D+)" Rating for Brookfield Business Partners (NYSE:BBU)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for Brookfield Business Partners (NYSE:BBU), indicating caution for potential investors.
• Despite the negative outlook from Weiss Ratings, some analysts, including Scotiabank and Royal Bank of Canada, have set price objectives of $39.00, giving the stock an "outperform" rating.
• Brookfield Business Partners has shown significant changes in institutional investment, with over 85% of the stock now owned by institutional investors and hedge funds.

Brookfield Business Partners (NYSE:BBU - Get Free Report)'s stock had its "sell (d+)" rating reiterated by stock analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

BBU has been the subject of a number of other reports. 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. Scotiabank set a $39.00 price objective on shares of Brookfield Business Partners and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Royal Bank Of Canada raised their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Zacks Research cut shares of Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 30th. Finally, Desjardins raised their price objective on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Brookfield Business Partners presently has an average rating of "Hold" and an average target price of $35.83.

Brookfield Business Partners Price Performance

Brookfield Business Partners stock traded up $0.70 during mid-day trading on Friday, reaching $35.21. The company had a trading volume of 57,894 shares, compared to its average volume of 30,701. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $36.72. 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 company has a market capitalization of $3.12 billion, a P/E ratio of -270.85 and a beta of 1.38. The stock's 50-day simple moving average is $30.14 and its 200-day simple moving average is $26.22.

Hedge Funds Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings 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 worth $31,000 after buying an additional 1,204 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in Brookfield Business Partners in the 2nd quarter worth $391,000. Legal & General Group Plc acquired a new position in Brookfield Business Partners in the 2nd quarter worth $3,373,000. JPMorgan Chase & Co. lifted its holdings in Brookfield Business Partners by 636.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider's stock worth $934,000 after buying an additional 31,135 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock worth $28,344,000 after buying an additional 14,981 shares in the last quarter. 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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