Brookfield Business Partners (NYSE:BBU) Now Covered by Analysts at Royal Bank Of Canada

Equities research analysts at Royal Bank Of Canada assumed coverage on shares of Brookfield Business Partners (NYSE:BBU) in a note issued to investors on Wednesday. The firm set an “outperform” rating and a $33.00 price target on the business services provider’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 31.61% from the company’s current price.

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

Brookfield Business Partners Price Performance

Brookfield Business Partners stock opened at $25.08 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 2.97. The company has a 50-day moving average price of $23.31 and a 200 day moving average price of $23.22. Brookfield Business Partners has a 12-month low of $16.85 and a 12-month high of $26.75. The stock has a market cap of $2.24 billion, a P/E ratio of -73.75 and a beta of 1.32.

Hedge Funds Weigh In On Brookfield Business Partners

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Brookfield Business Partners by 8.9% in 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 purchasing an additional 1,448 shares during the last quarter. BBR Partners LLC acquired a new position in Brookfield Business Partners during the fourth quarter worth $241,000. PCJ Investment Counsel Ltd. boosted its position in shares of Brookfield Business Partners by 6.6% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider’s stock worth $38,041,000 after buying an additional 99,763 shares during the period. AGF Management Ltd. acquired a new stake in shares of Brookfield Business Partners in the fourth quarter valued at $5,111,000. Finally, Forge First Asset Management Inc. grew its stake 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 buying an additional 173,500 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

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.