Baidu (NASDAQ:BIDU) Cut to “Hold” at China Renaissance

China Renaissance lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research report released on Monday, MarketBeat.com reports. The firm currently has $86.00 price target on the information services provider’s stock.

BIDU has been the topic of several other research reports. Mizuho lowered their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, September 24th. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $85.00 in a research report on Monday. Finally, Jefferies Financial Group lowered their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Stock Up 1.6 %

BIDU opened at $84.82 on Monday. The firm’s 50 day simple moving average is $93.64 and its two-hundred day simple moving average is $91.99. Baidu has a 1-year low of $78.95 and a 1-year high of $123.74. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $29.74 billion, a PE ratio of 10.38, a PEG ratio of 1.06 and a beta of 0.51.

Institutional Trading of Baidu

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its holdings in Baidu by 8.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after purchasing an additional 196 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Baidu by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock worth $107,107,000 after acquiring an additional 84,776 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Baidu by 1.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 26,019 shares of the information services provider’s stock valued at $2,739,000 after acquiring an additional 379 shares during the last quarter. Swedbank AB bought a new position in Baidu during the first quarter worth $4,351,000. Finally, Cetera Investment Advisers boosted its stake in Baidu by 1,119.9% in the 1st quarter. Cetera Investment Advisers now owns 31,011 shares of the information services provider’s stock valued at $3,265,000 after purchasing an additional 28,469 shares during the period.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.