Shares of Brookfield Business Partners LP (NYSE:BBU) have received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $47.60.
A number of analysts have recently commented on BBU shares. Credit Suisse Group started coverage on Brookfield Business Partners in a research note on Friday, November 16th. They issued a “buy” rating and a $54.00 price objective on the stock. Royal Bank of Canada dropped their price objective on Brookfield Business Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. ValuEngine downgraded Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, BMO Capital Markets initiated coverage on Brookfield Business Partners in a research report on Tuesday, November 20th. They set an “outperform” rating and a $47.00 target price on the stock.
Get Brookfield Business Partners alerts:NYSE:BBU traded up $1.14 during midday trading on Friday, reaching $33.89. 3,433 shares of the company traded hands, compared to its average volume of 15,936. Brookfield Business Partners has a twelve month low of $29.82 and a twelve month high of $46.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 1.15.
Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Thursday, November 8th. The business services provider reported ($1.02) earnings per share (EPS) for the quarter. Brookfield Business Partners had a return on equity of 12.62% and a net margin of 2.27%. The business had revenue of $9.99 billion for the quarter.
Institutional investors have recently made changes to their positions in the company. PCJ Investment Counsel Ltd. raised its position in shares of Brookfield Business Partners by 89.0% during the third quarter. PCJ Investment Counsel Ltd. now owns 28,350 shares of the business services provider’s stock worth $1,298,000 after purchasing an additional 13,350 shares during the period. Karpas Strategies LLC acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $233,000. Signition LP acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $279,000. Acadian Asset Management LLC raised its position in shares of Brookfield Business Partners by 9.9% during the third quarter. Acadian Asset Management LLC now owns 697,728 shares of the business services provider’s stock worth $31,962,000 after purchasing an additional 62,600 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Brookfield Business Partners by 21.2% during the third quarter. Mackenzie Financial Corp now owns 106,977 shares of the business services provider’s stock worth $6,334,000 after purchasing an additional 18,747 shares during the period. 75.20% of the stock is currently owned by institutional investors.
About Brookfield Business Partners
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