Barclays Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price objective raised by Barclays from $46.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 25.09% from the company’s previous close.

Other research analysts also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. UBS Group reduced their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $46.47.

Baker Hughes Stock Up 0.4 %

NASDAQ:BKR traded up $0.16 during trading hours on Wednesday, reaching $41.57. The company’s stock had a trading volume of 362,174 shares, compared to its average volume of 7,097,544. 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 company has a market cap of $41.13 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The business’s 50-day moving average is $40.71 and its 200-day moving average is $36.85.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data 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 business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Institutional Trading of Baker Hughes

Several hedge funds have recently added to or reduced their stakes in BKR. Ashton Thomas Securities LLC bought a new stake in Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC increased its position in shares of Baker Hughes by 2,181.6% during the 3rd 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 last quarter. Groupama Asset Managment boosted its holdings in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of 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 buying an additional 796 shares in the last quarter. Finally, Alta Advisers Ltd acquired a new position in Baker Hughes during the second quarter worth $42,000. 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.