Stifel Nicolaus Raises Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its price target raised by analysts at Stifel Nicolaus from $45.00 to $48.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 10.27% from the company’s previous close.

BKR has been the topic of several other research reports. Barclays raised their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Susquehanna raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.53 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a market cap of $43.07 billion, a PE ratio of 19.52, a PEG ratio of 0.75 and a beta of 1.38. The company’s fifty day moving average is $38.91 and its 200 day moving average is $35.81. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate 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 business earned $0.42 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently made changes to their positions in BKR. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Baker Hughes in the 1st quarter worth about $34,000. Finally, Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Institutional investors 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.