National Bankshares Forecasts Strong Price Appreciation for Brookfield Business Partners (NYSE:BBU) Stock

Brookfield Business Partners (NYSE:BBU) had its target price upped by National Bankshares from $39.00 to $43.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the business services provider’s stock. National Bankshares’ target price would suggest a potential upside of 40.73% from the stock’s previous close.

A number of other analysts have also recently commented on BBU. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, October 8th. Wall Street Zen cut Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research lowered Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 30th. Desjardins boosted their price objective on Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their target price on Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Business Partners presently has a consensus rating of “Hold” and an average price target of $36.50.

Brookfield Business Partners Trading Down 9.7%

BBU stock traded down $3.30 during midday trading on Friday, hitting $30.56. The company had a trading volume of 89,985 shares, compared to its average volume of 32,087. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -235.04 and a beta of 1.39. The stock’s 50 day moving average price is $31.65 and its 200 day moving average price is $27.26. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. Brookfield Business Partners has a 52 week low of $18.63 and a 52 week high of $36.90.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BROOKFIELD Corp ON increased its holdings in shares of Brookfield Business Partners by 72.5% during the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock valued at $1,035,806,000 after purchasing an additional 18,549,503 shares in the last quarter. Triasima Portfolio Management inc. acquired a new stake in Brookfield Business Partners during the first quarter valued at $3,997,000. Bank of New York Mellon Corp increased its holdings in Brookfield Business Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock valued at $465,000 after buying an additional 2,078 shares in the last quarter. TD Asset Management Inc raised its position in shares of Brookfield Business Partners by 2.7% in the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock worth $3,625,000 after acquiring an additional 4,032 shares during the period. Finally, AGF Management Ltd. raised its holdings in Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock worth $8,030,000 after purchasing an additional 126,189 shares during the period. 85.04% of the stock is 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.