Credit Suisse Group Upgrades Brookfield Business Partners (NYSE:BBU) to “Outperform”

Brookfield Business Partners (NYSE:BBU) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued on Friday, Briefing.com reports. The firm currently has a $52.00 target price on the business services provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 19.21% from the stock’s current price.

Several other research firms also recently issued reports on BBU. National Bankshares lifted their price target on Brookfield Business Partners from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, May 6th. iA Financial began coverage on Brookfield Business Partners in a research note on Friday, May 21st. They issued a “buy” rating for the company. Industrial Alliance Securities assumed coverage on shares of Brookfield Business Partners in a report on Friday, May 21st. They set a “buy” rating for the company. Royal Bank of Canada increased their price objective on shares of Brookfield Business Partners from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 7th. Finally, TheStreet upgraded shares of Brookfield Business Partners from a “d” rating to a “c-” rating in a research note on Wednesday, May 5th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Brookfield Business Partners has an average rating of “Buy” and an average target price of $51.00.

Shares of BBU opened at $43.62 on Friday. The stock has a 50 day moving average of $43.80. Brookfield Business Partners has a 1 year low of $25.68 and a 1 year high of $49.11. The firm has a market cap of $3.43 billion, a PE ratio of 13.30 and a beta of 1.64. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.92 and a current ratio of 1.19.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Tuesday, May 4th. The business services provider reported $3.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $1.89. Brookfield Business Partners had a return on equity of 18.27% and a net margin of 5.41%. As a group, analysts anticipate that Brookfield Business Partners will post 8.96 earnings per share for the current fiscal year.

In other news, Director Gp Ltd Bcp sold 20,000,000 shares of the firm’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $13.31, for a total value of $266,200,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guardian Capital Advisors LP lifted its position in Brookfield Business Partners by 5.4% during the 4th quarter. Guardian Capital Advisors LP now owns 15,497 shares of the business services provider’s stock worth $597,000 after acquiring an additional 800 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Brookfield Business Partners by 1,200.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the business services provider’s stock worth $49,000 after purchasing an additional 1,200 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Brookfield Business Partners by 761.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,654 shares of the business services provider’s stock worth $62,000 after purchasing an additional 1,462 shares during the last quarter. UBS Group AG increased its holdings in Brookfield Business Partners by 32.6% during the 1st quarter. UBS Group AG now owns 6,175 shares of the business services provider’s stock worth $248,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Brookfield Business Partners by 3.6% during the 1st quarter. Renaissance Technologies LLC now owns 107,200 shares of the business services provider’s stock worth $4,320,000 after purchasing an additional 3,700 shares during the last quarter. 75.74% 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 specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.

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Analyst Recommendations for Brookfield Business Partners (NYSE:BBU)

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