The Goldman Sachs Group Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price objective boosted by The Goldman Sachs Group from $51.00 to $52.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 13.51% from the stock’s current price.

A number of other research analysts also recently commented on BKR. Barclays upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America boosted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus upped their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, TD Cowen reduced their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.06.

Baker Hughes Stock Down 2.6 %

BKR stock opened at $45.81 on Thursday. Baker Hughes has a one year low of $28.32 and a one year high of $47.47. The stock has a market capitalization of $45.33 billion, a P/E ratio of 20.54, a PEG ratio of 0.90 and a beta of 1.39. The company has a 50 day moving average price of $42.91 and a two-hundred day moving average price of $38.61. 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. 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 during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Baker Hughes in the third quarter valued at about $30,000. True Wealth Design LLC boosted its stake 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 valued at $31,000 after buying an additional 829 shares during the last quarter. Groupama Asset Managment grew its position 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 worth $32,000 after buying an additional 811,711 shares in the last quarter. Continuum Advisory LLC increased 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 worth $35,000 after buying an additional 796 shares during the last quarter. Finally, Quarry LP raised its holdings in Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.