Baidu (NASDAQ:BIDU) Stock Rating Lowered by China Renaissance

China Renaissance cut shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a report issued on Monday morning, Marketbeat.com reports. China Renaissance currently has $86.00 price objective on the information services provider’s stock.

Several other equities analysts have also recently commented on the stock. Mizuho reduced their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $85.00 in a report on Monday. Finally, Bank of America dropped their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.92.

Baidu Trading Up 2.9 %

BIDU opened at $82.67 on Monday. The stock has a market capitalization of $28.99 billion, a PE ratio of 10.12, a P/E/G ratio of 1.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. Baidu has a 12-month low of $78.95 and a 12-month high of $126.23. The firm’s fifty day moving average price is $93.67 and its 200 day moving average price is $92.22.

Institutional Investors Weigh In On Baidu

Several large investors have recently made changes to their positions in the company. Primecap Management Co. CA boosted its position in shares of Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after buying an additional 1,753,577 shares during the period. International Assets Investment Management LLC raised its stake in Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new position in Baidu during the 3rd quarter worth $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Baidu in the third quarter worth $36,272,000. Finally, Hhlr Advisors LTD. acquired a new position in shares of Baidu during the third quarter valued at $31,587,000.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.