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

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

Other equities research analysts have also issued research reports about the company. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Susquehanna boosted their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.06.

Baker Hughes Stock Performance

Shares of BKR opened at $45.55 on Thursday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.47. 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 company has a market cap of $45.07 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. The stock has a 50-day moving average price of $42.96 and a 200-day moving average price of $38.66.

Baker Hughes (NASDAQ:BKR) last issued its quarterly 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. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Institutional Trading of Baker Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resonant Capital Advisors LLC purchased a new position in shares of Baker Hughes during the fourth quarter valued at about $226,000. JB Capital LLC grew its holdings 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 worth $3,306,000 after acquiring an additional 3,757 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of Baker Hughes by 1.2% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 138,308 shares of the company’s stock worth $5,662,000 after acquiring an additional 1,653 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Baker Hughes by 4.1% in the 4th quarter. Greenleaf Trust now owns 13,559 shares of the company’s stock valued at $556,000 after purchasing an additional 535 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $209,000. 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.