Brookfield Business Partners (BBU) Downgraded to “Hold” at ValuEngine

ValuEngine lowered shares of Brookfield Business Partners (NYSE:BBU) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank started coverage on shares of Brookfield Business Partners in a research report on Wednesday, September 19th. They set a hold rating and a $49.00 price objective on the stock. Credit Suisse Group set a $54.00 price objective on shares of Brookfield Business Partners and gave the company a buy rating in a research report on Thursday, August 23rd. Finally, Royal Bank of Canada set a $48.00 price objective on shares of Brookfield Business Partners and gave the company a buy rating in a research report on Thursday, September 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Brookfield Business Partners currently has an average rating of Buy and a consensus target price of $49.25.

Shares of Brookfield Business Partners stock traded down $1.39 on Thursday, hitting $40.87. 26,400 shares of the company traded hands, compared to its average volume of 31,745. The stock has a market cap of $2.63 billion, a P/E ratio of 331.33 and a beta of 1.79. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.29 and a quick ratio of 1.08. Brookfield Business Partners has a 52 week low of $29.49 and a 52 week high of $46.55.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data on Friday, August 3rd. The business services provider reported $0.92 earnings per share (EPS) for the quarter. The firm had revenue of $8.78 billion for the quarter. Brookfield Business Partners had a net margin of 0.89% and a return on equity of 8.81%.

A number of institutional investors and hedge funds have recently made changes to their positions in BBU. Russell Investments Group Ltd. bought a new stake in Brookfield Business Partners in the first quarter worth $658,000. Jane Street Group LLC bought a new stake in Brookfield Business Partners in the first quarter worth $309,000. Acadian Asset Management LLC increased its position in Brookfield Business Partners by 81.0% in the second quarter. Acadian Asset Management LLC now owns 635,128 shares of the business services provider’s stock worth $24,328,000 after purchasing an additional 284,200 shares during the last quarter. Intact Investment Management Inc. bought a new stake in Brookfield Business Partners in the second quarter worth $1,695,000. Finally, PCJ Investment Counsel Ltd. bought a new stake in Brookfield Business Partners in the second quarter worth $575,000. Institutional investors own 75.74% of the company’s stock.

About Brookfield Business Partners

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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