Brookfield Business Partners (NYSE:BBU) Lowered to “Sell” at Zacks Investment Research

Brookfield Business Partners (NYSE:BBU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Brookfield Business Partners L.P own and operate business services and industrial operations. Brookfield Business Partners L.P is based in Hamiltom, Bermuda. “

Several other research analysts have also issued reports on the stock. Royal Bank of Canada increased their target price on shares of Brookfield Business Partners from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, February 8th. National Bank Financial raised their price objective on shares of Brookfield Business Partners from $38.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, February 4th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $46.00.

NYSE BBU traded up $0.37 on Tuesday, hitting $43.90. 10,610 shares of the company were exchanged, compared to its average volume of 24,813. The company has a market cap of $3.45 billion, a PE ratio of -18.37 and a beta of 1.65. Brookfield Business Partners has a 12 month low of $24.82 and a 12 month high of $44.34. The stock has a fifty day moving average of $40.77 and a 200-day moving average of $38.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Thursday, February 4th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($1.10). The company had revenue of $10.05 billion for the quarter. Brookfield Business Partners had a negative return on equity of 1.66% and a negative net margin of 0.43%. On average, analysts expect that Brookfield Business Partners will post 5.49 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its position in shares of Brookfield Business Partners by 10.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,523,381 shares of the business services provider’s stock valued at $133,360,000 after purchasing an additional 337,598 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Brookfield Business Partners by 95.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,175,461 shares of the business services provider’s stock worth $59,631,000 after buying an additional 573,538 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Brookfield Business Partners by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 601,923 shares of the business services provider’s stock worth $29,067,000 after buying an additional 5,570 shares during the last quarter. Toronto Dominion Bank increased its holdings in Brookfield Business Partners by 60.4% during the fourth quarter. Toronto Dominion Bank now owns 257,802 shares of the business services provider’s stock worth $9,702,000 after buying an additional 97,107 shares during the last quarter. Finally, Nicola Wealth Management LTD. increased its holdings in Brookfield Business Partners by 57.1% during the fourth quarter. Nicola Wealth Management LTD. now owns 110,000 shares of the business services provider’s stock worth $4,169,000 after buying an additional 40,000 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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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