BMO Capital Markets Increases Brookfield Business Partners (NYSE:BBU) Price Target to $31.00

Brookfield Business Partners (NYSE:BBU) had its price target raised by equities researchers at BMO Capital Markets from $30.00 to $31.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 63.59% from the stock’s previous close.

Other analysts have also issued reports about the stock. National Bankshares increased their target price on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. TheStreet lowered shares of Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Scotiabank increased their target price on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a report on Monday, February 5th. Finally, Desjardins increased their price target on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $30.33.

Brookfield Business Partners Stock Performance

Brookfield Business Partners stock opened at $18.95 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The firm has a 50-day moving average of $20.55 and a 200-day moving average of $19.35. The firm has a market cap of $1.41 billion, a P/E ratio of 2.97 and a beta of 1.44. Brookfield Business Partners has a 1-year low of $12.22 and a 1-year high of $23.75.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently made changes to their positions in BBU. Royal Bank of Canada increased its stake in shares of Brookfield Business Partners by 1.5% during the third quarter. Royal Bank of Canada now owns 8,779,849 shares of the business services provider’s stock valued at $133,455,000 after purchasing an additional 128,970 shares in the last quarter. K2 Principal Fund L.P. bought a new stake in shares of Brookfield Business Partners during the fourth quarter valued at approximately $2,033,000. Triasima Portfolio Management inc. bought a new stake in shares of Brookfield Business Partners during the first quarter valued at approximately $1,405,000. Hsbc Holdings PLC bought a new stake in shares of Brookfield Business Partners during the third quarter valued at approximately $476,000. Finally, Gold Investment Management Ltd. bought a new stake in shares of Brookfield Business Partners during the fourth quarter valued at approximately $618,000. 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.