National Bankshares Cuts Brookfield Business Partners (NYSE:BBU) Price Target to $32.00

Brookfield Business Partners (NYSE:BBU) had its target price trimmed by National Bankshares from $36.00 to $32.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the business services provider’s stock.

BBU has been the topic of a number of other research reports. Scotiabank decreased their target price on shares of Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 24th. CIBC lowered their target price 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. Royal Bank of Canada cut their price target on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets upped their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.00.

Brookfield Business Partners Price Performance

Brookfield Business Partners stock opened at $22.35 on Wednesday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. Brookfield Business Partners has a 52 week low of $16.85 and a 52 week high of $26.75. The stock has a market capitalization of $2.00 billion, a P/E ratio of -45.61 and a beta of 1.34. The stock has a fifty day moving average of $22.35 and a 200-day moving average of $23.10.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. On average, sell-side analysts expect that Brookfield Business Partners will post 5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Business Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AGF Management Ltd. bought a new position in Brookfield Business Partners during the 4th quarter worth approximately $5,111,000. Forge First Asset Management Inc. raised its stake in Brookfield Business Partners by 48.3% during the fourth quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock worth $12,538,000 after buying an additional 173,500 shares during the last quarter. Triasima Portfolio Management inc. acquired a new position in Brookfield Business Partners in the first quarter valued at $3,997,000. NewGen Asset Management Ltd bought a new stake in Brookfield Business Partners during the fourth quarter valued at $2,356,000. Finally, PCJ Investment Counsel Ltd. grew its holdings in Brookfield Business Partners by 6.6% during the 4th 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 period. 85.04% of the stock is owned by institutional investors and hedge funds.

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.