Zacks Research Downgrades Brookfield Business Partners (NYSE:BBU) to Strong Sell

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

A number of other brokerages also recently weighed in on BBU. National Bankshares raised their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets upped their price objective on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday. Desjardins boosted their target price on Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank Of Canada increased their target price on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.67.

Brookfield Business Partners Price Performance

BBU stock opened at $35.89 on Tuesday. The company’s 50-day moving average price is $35.45 and its two-hundred day moving average price is $31.81. The firm has a market cap of $3.15 billion, a P/E ratio of -138.04 and a beta of 1.31. The company has a quick ratio of 1.41, a current ratio of 0.27 and a debt-to-equity ratio of 2.84. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $37.38.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($1.86). The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $3.46 billion. Brookfield Business Partners had a return on equity of 2.67% and a net margin of 1.41%. On average, analysts anticipate that Brookfield Business Partners will post 5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Business Partners

Several large investors have recently bought and sold shares of the company. PCJ Investment Counsel Ltd. grew its holdings in shares of Brookfield Business Partners by 5.3% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,338,079 shares of the business services provider’s stock worth $43,786,000 after purchasing an additional 67,295 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in Brookfield Business Partners by 1.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock valued at $35,513,000 after buying an additional 17,508 shares during the last quarter. Picton Mahoney Asset Management boosted its position in Brookfield Business Partners by 74.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock worth $22,849,000 after buying an additional 297,180 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Business Partners by 14.4% during the 3rd quarter. Bank of Montreal Can now owns 553,148 shares of the business services provider’s stock worth $18,140,000 after acquiring an additional 69,657 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Brookfield Business Partners by 796.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock valued at $10,530,000 after acquiring an additional 286,872 shares during the period. 85.04% of the stock is currently owned by institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.