Piper Sandler Begins Coverage on Baker Hughes (NASDAQ:BKR)

Stock analysts at Piper Sandler began coverage on shares of Baker Hughes (NASDAQ:BKR) in a research report issued on Thursday, Marketbeat reports. The firm set an “overweight” rating and a $53.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 31.45% from the stock’s current price.

BKR has been the subject of several other reports. BMO Capital Markets boosted their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Baker Hughes Stock Up 1.3 %

Shares of NASDAQ BKR opened at $40.32 on Thursday. The stock has a market capitalization of $39.90 billion, a P/E ratio of 18.08, a PEG ratio of 0.72 and a beta of 1.40. The stock’s fifty day moving average is $40.85 and its 200 day moving average is $36.95. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Sell-side analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BKR. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the 3rd quarter valued at $30,000. True Wealth Design LLC grew its holdings in 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 purchasing an additional 829 shares during the period. Groupama Asset Managment increased its stake 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 in the last quarter. Continuum Advisory LLC raised its holdings in shares of Baker Hughes by 442.2% during 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 shares of Baker Hughes during the second quarter valued at about $42,000. 92.06% of the stock is owned by institutional investors.

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.