Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00 at The Goldman Sachs Group

Baker Hughes (NASDAQ:BKR) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $51.00 to $52.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 14.16% from the stock’s current price.

A number of other analysts have also weighed in on BKR. Benchmark restated a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Jefferies Financial Group upped their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus upped their price target on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Evercore ISI lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.06.

Baker Hughes Stock Performance

Baker Hughes stock opened at $45.55 on Thursday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.47. 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 company has a market capitalization of $45.07 billion, a P/E ratio of 20.43, a PEG ratio of 0.88 and a beta of 1.39. The stock’s 50 day moving average is $42.96 and its 200 day moving average is $38.66.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, equities research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Resonant Capital Advisors LLC bought a new stake in Baker Hughes during the 4th quarter worth approximately $226,000. JB Capital LLC raised its position in shares of Baker Hughes by 4.9% during the 4th quarter. JB Capital LLC now owns 80,602 shares of the company’s stock valued at $3,306,000 after purchasing an additional 3,757 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of Baker Hughes by 1.2% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 138,308 shares of the company’s stock valued at $5,662,000 after purchasing an additional 1,653 shares during the period. Greenleaf Trust lifted its stake in shares of Baker Hughes by 4.1% during the 4th quarter. Greenleaf Trust now owns 13,559 shares of the company’s stock valued at $556,000 after buying an additional 535 shares in the last quarter. Finally, SYM FINANCIAL Corp bought a new position in Baker Hughes in the 4th quarter worth $209,000. 92.06% of the stock is currently 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.