Susquehanna Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price objective raised by research analysts at Susquehanna from $53.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 16.65% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday. Finally, Stifel Nicolaus raised their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Baker Hughes Price Performance

BKR traded up $0.97 on Monday, hitting $47.15. 4,579,375 shares of the company’s stock were exchanged, compared to its average volume of 7,640,859. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $47.60. The stock has a market cap of $46.66 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.89 and a beta of 1.39. The firm has a 50-day moving average price of $43.03 and a 200-day moving average price of $39.12. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts anticipate that Baker Hughes will post 2.55 earnings per share for the current year.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BKR. JFS Wealth Advisors LLC boosted its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes in the 3rd quarter valued at $30,000. True Wealth Design LLC raised its stake in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares in the last quarter. Continuum Advisory LLC lifted its position in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Baker Hughes in the fourth quarter valued at $45,000. 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.