TD Cowen Lowers Baker Hughes (NASDAQ:BKR) Price Target to $51.00

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target lowered by equities research analysts at TD Cowen from $53.00 to $51.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price target would suggest a potential upside of 17.40% from the company's current price.

Several other equities research analysts have also weighed in on the company. Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Barclays boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Piper Sandler started coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an "overweight" rating and a $53.00 price target for the company. Atb Cap Markets downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, Benchmark restated a "buy" rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $47.18.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded up $0.04 during midday trading on Wednesday, hitting $43.44. 4,992,718 shares of the company's stock were exchanged, compared to its average volume of 5,716,402. The firm has a market cap of $42.99 billion, a P/E ratio of 19.48, a PEG ratio of 0.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The stock's 50 day moving average price is $41.94 and its 200-day moving average price is $37.81. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business's quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the third quarter worth $30,000. True Wealth Design LLC lifted its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment increased its holdings in Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Continuum Advisory LLC increased its holdings in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after purchasing an additional 796 shares during the period. Finally, Alta Advisers Ltd acquired a new position in Baker Hughes during the 2nd quarter worth about $42,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.