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

Baker Hughes (NASDAQ:BKR) had its target price increased by stock analysts at Stifel Nicolaus from $48.00 to $54.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 14.53% from the stock’s previous close.

A number of other research firms have also recently issued reports on BKR. Bank of America raised their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. TD Cowen cut their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets upped their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Susquehanna raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Baker Hughes Stock Up 2.1 %

BKR traded up $0.97 during trading on Monday, reaching $47.15. 4,579,375 shares of the stock were exchanged, compared to its average volume of 7,640,859. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock’s 50 day moving average price is $43.03 and its two-hundred day moving average price is $39.12. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The stock has a market cap of $46.66 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities analysts expect that Baker Hughes will post 2.55 EPS for the current year.

Insider Buying and Selling

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. JFS Wealth Advisors LLC grew its position in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the third quarter worth about $30,000. True Wealth Design LLC increased 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 valued at $31,000 after buying an additional 829 shares during the period. Groupama Asset Managment raised its holdings in 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. Finally, Continuum Advisory LLC boosted its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.