Jefferies Financial Group Increases Baker Hughes (NASDAQ:BKR) Price Target to $50.00

Baker Hughes (NASDAQ:BKR) had its price target boosted by analysts at Jefferies Financial Group from $48.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 17.21% from the company’s previous close.

Several other research analysts also recently weighed in on BKR. Morgan Stanley boosted their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Benchmark reiterated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Stifel Nicolaus lifted their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Citigroup increased their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $47.12.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.66 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $41.71 and its 200-day moving average price is $37.59. The firm has a market cap of $42.21 billion, a P/E ratio of 19.13, a P/E/G ratio of 0.72 and a beta of 1.39. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The business 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 business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. On average, equities research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fiera Capital Corp purchased a new position in shares of Baker Hughes in the second quarter valued at approximately $443,000. TD Asset Management Inc lifted its position in Baker Hughes by 6.0% during the second quarter. TD Asset Management Inc now owns 423,848 shares of the company’s stock worth $14,907,000 after buying an additional 24,145 shares in the last quarter. Candriam S.C.A. boosted its position in shares of Baker Hughes by 13.4% during the 2nd quarter. Candriam S.C.A. now owns 87,219 shares of the company’s stock valued at $3,067,000 after acquiring an additional 10,294 shares during the last quarter. Sustainable Insight Capital Management LLC acquired a new stake in Baker Hughes during the second quarter worth about $271,000. Finally, Savant Capital LLC raised its stake in Baker Hughes by 9.9% during the second quarter. Savant Capital LLC now owns 95,908 shares of the company’s stock worth $3,373,000 after purchasing an additional 8,633 shares during the period. Hedge funds and other institutional investors 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.