Brookfield Business (NYSE:BBUC) Price Target Lowered to $42.00 at National Bank Financial

Brookfield Business (NYSE:BBUC) had its price target reduced by investment analysts at National Bank Financial from $44.00 to $42.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 28.24% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Brookfield Business in a report on Monday. Wall Street Zen downgraded Brookfield Business from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings downgraded Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. Royal Bank Of Canada decreased their target price on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday. Finally, Zacks Research raised Brookfield Business from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.38.

Brookfield Business Stock Performance

BBUC stock traded up $0.94 during trading on Tuesday, reaching $32.75. 169,017 shares of the company traded hands, compared to its average volume of 179,818. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 2.91. The company has a market capitalization of $6.78 billion, a P/E ratio of -72.50 and a beta of 1.27. The company’s 50 day moving average price is $33.05. Brookfield Business has a 12 month low of $27.64 and a 12 month high of $38.25.

Brookfield Business (NYSE:BBUC) last issued its quarterly earnings results on Friday, May 8th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of $1.31 by $997.69. The business had revenue of $6.44 billion during the quarter. Brookfield Business had a return on equity of 2.37% and a net margin of 1.28%. As a group, research analysts forecast that Brookfield Business will post 5.5 EPS for the current year.

Institutional Trading of Brookfield Business

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in Brookfield Business by 335.6% during the fourth quarter. Millennium Management LLC now owns 295,351 shares of the company’s stock worth $10,597,000 after buying an additional 227,555 shares during the last quarter. HRT Financial LP raised its holdings in shares of Brookfield Business by 384.1% in the 4th quarter. HRT Financial LP now owns 74,225 shares of the company’s stock valued at $2,663,000 after buying an additional 58,891 shares during the period. Bank of America Corp DE increased its holdings in Brookfield Business by 6.8% during the 3rd quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after purchasing an additional 3,348 shares during the period. TD Asset Management Inc raised its holdings in Brookfield Business by 12.8% during the fourth quarter. TD Asset Management Inc now owns 43,597 shares of the company’s stock worth $1,560,000 after purchasing an additional 4,952 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Brookfield Business in the 4th quarter valued at about $1,402,000. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Company Profile

Brookfield Business (NYSE: BBUC) is a publicly traded operating company affiliated with the Brookfield group that focuses on owning and managing a portfolio of industrial and business services companies. The company’s model centers on acquiring established businesses and applying active operational oversight, capital investment and strategic management to improve performance and support long?term growth.

Brookfield Business’s activities span a range of sectors within the industrial and services landscape, including manufacturing, industrial services, specialty distribution and business?to?business service providers.