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

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

Brookfield Business Partners Trading Up 0.9 %

NYSE BBU opened at $22.54 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. The business has a fifty day simple moving average of $24.04 and a 200 day simple moving average of $22.00. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month 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 announced its earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The company had revenue of $9.23 billion during the quarter. During the same quarter in the prior year, the company earned $1.33 EPS. On average, analysts predict that Brookfield Business Partners will post 5.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BBU. Bank of New York Mellon Corp purchased a new position in shares of Brookfield Business Partners during the 2nd quarter valued at $307,000. Principal Financial Group Inc. boosted its stake in Brookfield Business Partners by 2.0% during the second quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock valued at $1,701,000 after buying an additional 1,808 shares during the period. Bank of Montreal Can grew its position in Brookfield Business Partners by 3.1% during the second quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after buying an additional 22,886 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Brookfield Business Partners by 12.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock worth $12,910,000 after acquiring an additional 77,017 shares during the last quarter. Finally, AYAL Capital Advisors Ltd raised its holdings in shares of Brookfield Business Partners by 97.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 22,200 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

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.