Royal Bank Of Canada Begins Coverage on Brookfield Business Partners (NYSE:BBU)

Research analysts at Royal Bank Of Canada assumed coverage on shares of Brookfield Business Partners (NYSE:BBU) in a research note issued on Wednesday. The brokerage set an “outperform” rating and a $33.00 price target on the business services provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 31.61% from the stock’s previous close.

BBU has been the topic of several other research reports. CIBC dropped their target price on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, April 28th. National Bankshares lowered their price objective on Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Scotiabank cut their price objective on Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 24th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.60.

Brookfield Business Partners Price Performance

Shares of NYSE BBU opened at $25.08 on Wednesday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.21 and a current ratio of 1.48. The firm has a fifty day moving average of $23.31 and a 200 day moving average of $23.22. The firm has a market cap of $2.24 billion, a PE ratio of -73.75 and a beta of 1.32. Brookfield Business Partners has a one year low of $16.85 and a one year high of $26.75.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in Brookfield Business Partners by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock valued at $415,000 after acquiring an additional 1,448 shares in the last quarter. BBR Partners LLC purchased a new position in Brookfield Business Partners in the 4th quarter worth approximately $241,000. PCJ Investment Counsel Ltd. boosted its holdings in shares of 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 purchasing an additional 99,763 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Brookfield Business Partners in the fourth quarter valued at approximately $5,111,000. Finally, Forge First Asset Management Inc. grew its position in shares of Brookfield Business Partners by 48.3% in the fourth quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock valued at $12,538,000 after purchasing an additional 173,500 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.