BMO Capital Markets Raises Brookfield Business Partners (NYSE:BBU) Price Target to $34.00

Brookfield Business Partners (NYSE:BBU) had its price objective lifted by stock analysts at BMO Capital Markets from $32.00 to $34.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 50.84% from the stock’s current price.

Brookfield Business Partners Trading Up 0.9 %

Shares of NYSE BBU opened at $22.54 on Friday. The company’s 50 day simple moving average is $24.04 and its 200 day simple moving average is $22.00. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. Brookfield Business Partners has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. The firm has a market capitalization of $1.67 billion, a P/E ratio of 2.78 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.00 by $0.39. The firm had revenue of $9.23 billion for the quarter. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. During the same period last year, the firm earned $1.33 earnings per share. On average, analysts predict that Brookfield Business Partners will post 5.43 EPS for the current year.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after acquiring an additional 608 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookfield Business Partners by 2.0% in the 2nd quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock valued at $1,701,000 after purchasing an additional 1,808 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of Brookfield Business Partners during the 3rd quarter worth $45,000. Gold Investment Management Ltd. lifted its position in shares of Brookfield Business Partners by 7.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after buying an additional 2,169 shares during the last quarter. Finally, Tandem Capital Management Corp ADV boosted its stake in Brookfield Business Partners by 24.5% in the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after buying an additional 7,939 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

About Brookfield Business Partners

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.