Brookfield Business (NYSE:BBUC) Stock Price Target Cut by TD Cowen

Brookfield Business (NYSE:BBUC) had its price target cut by investment analysts at TD Cowen from $32.00 to $29.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential upside of 8.66% from the company’s previous close.

Several other research analysts also recently commented on the stock. Weiss Ratings upgraded shares of Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Wall Street Zen cut shares of Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Scotiabank set a $40.50 price target on Brookfield Business in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.60.

Brookfield Business Stock Performance

NYSE:BBUC opened at $26.69 on Monday. Brookfield Business has a 12 month low of $24.80 and a 12 month high of $38.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.44 and a quick ratio of 1.22. The company’s 50 day moving average is $27.15 and its 200-day moving average is $30.57.

Brookfield Business (NYSE:BBUC) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share for the quarter. The business had revenue of $6.50 billion during the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. On average, equities research analysts predict that Brookfield Business will post 5.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp acquired a new position in shares of Brookfield Business during the second quarter valued at about $29,617,000. The Manufacturers Life Insurance Company acquired a new stake in Brookfield Business during the second quarter worth about $2,283,000. Tidal Investments LLC bought a new position in Brookfield Business during the second quarter valued at about $529,000. Citadel Advisors LLC bought a new position in Brookfield Business during the second quarter valued at about $1,140,000. Finally, TD Waterhouse Canada Inc. bought a new position in Brookfield Business during the second quarter valued at about $23,247,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Company Profile

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded company that provides investors with an alternative way to participate in the operations of Brookfield Business Partners L.P. The corporation’s shares are designed to be economically equivalent to units of Brookfield Business Partners and are supported by the company’s portfolio of operating businesses.

Brookfield Business Partners and its affiliated businesses focus on owning and operating companies in sectors including business services, infrastructure services, healthcare and industrial operations.