Baker Hughes (NASDAQ:BKR) Price Target Raised to $43.00

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price objective lifted by investment analysts at UBS Group from $40.00 to $43.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target points to a potential downside of 5.36% from the company's current price.

BKR has been the topic of several other reports. Stifel Nicolaus decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. TD Cowen upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday. TD Securities reduced their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada reduced their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley reduced their target price on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.50.

Baker Hughes Stock Up 1.7%

Shares of BKR stock traded up $0.76 on Thursday, hitting $45.44. The company's stock had a trading volume of 6,216,787 shares, compared to its average volume of 8,039,249. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. Baker Hughes has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The firm's fifty day moving average price is $38.56 and its 200-day moving average price is $40.93. The stock has a market capitalization of $45.01 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 5.02 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.77%. The business's revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BKR. Wayfinding Financial LLC acquired a new position in Baker Hughes during the first quarter worth $28,000. Golden State Wealth Management LLC raised its holdings in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after purchasing an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Baker Hughes in the first quarter valued at about $30,000. Grove Bank & Trust raised its holdings in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after purchasing an additional 320 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after purchasing an additional 465 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

About Baker Hughes

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.

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