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

Baker Hughes (NASDAQ:BKR) had its price objective increased by equities research analysts at Jefferies Financial Group from $48.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 17.21% from the company’s current price.

Several other brokerages also recently weighed in on BKR. Wells Fargo & Company upped their target price on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Morgan Stanley increased their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.12.

Baker Hughes Trading Up 2.6 %

BKR opened at $42.66 on Friday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. 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 business has a fifty day simple moving average of $41.71 and a 200-day simple moving average of $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 (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during 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%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Baker Hughes by 41.1% during the 4th quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after purchasing an additional 2,998 shares during the period. Principal Financial Group Inc. increased its stake in Baker Hughes by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock valued at $42,580,000 after purchasing an additional 47,727 shares during the period. Birmingham Capital Management Co. Inc. AL raised its holdings in shares of Baker Hughes by 18.5% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after buying an additional 2,500 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Baker Hughes during the third quarter worth about $139,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Baker Hughes by 92.0% during the third quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock worth $3,180,000 after buying an additional 42,148 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.