Desjardins Boosts Brookfield Business Partners (NYSE:BBU) Price Target to $43.00

Brookfield Business Partners (NYSE:BBU) had its price target lifted by Desjardins from $41.00 to $43.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the business services provider’s stock. Desjardins’ price objective suggests a potential upside of 20.38% from the stock’s previous close.

Several other analysts have also recently weighed in on BBU. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, January 21st. Zacks Research upgraded Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada lifted their price target on Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday. National Bankshares increased their price objective on Brookfield Business Partners from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.67.

Brookfield Business Partners Stock Down 1.6%

Shares of NYSE BBU opened at $35.72 on Monday. The firm has a fifty day simple moving average of $35.41 and a two-hundred day simple moving average of $31.78. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $37.38. The company has a current ratio of 0.27, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $3.13 billion, a PE ratio of -137.38 and a beta of 1.31.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $3.46 billion. Equities analysts expect that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Credit Industriel ET Commercial boosted its stake in Brookfield Business Partners by 29.4% in the 4th quarter. Credit Industriel ET Commercial now owns 194,668 shares of the business services provider’s stock worth $6,852,000 after purchasing an additional 44,263 shares in the last quarter. Intact Investment Management Inc. bought a new stake in Brookfield Business Partners during the 4th quarter valued at about $71,000. Gold Investment Management Ltd. raised its holdings in Brookfield Business Partners by 1.8% in the fourth quarter. Gold Investment Management Ltd. now owns 45,074 shares of the business services provider’s stock worth $1,595,000 after buying an additional 804 shares during the last quarter. Rathbones Group PLC lifted its stake in shares of Brookfield Business Partners by 31.3% in the fourth quarter. Rathbones Group PLC now owns 13,437 shares of the business services provider’s stock worth $473,000 after buying an additional 3,207 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Brookfield Business Partners by 796.3% during the third quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock valued at $10,530,000 after buying an additional 286,872 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.