Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00 at Evercore ISI

Baker Hughes (NASDAQ:BKR) had its price objective raised by stock analysts at Evercore ISI from $46.00 to $52.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 14.16% from the stock’s current price.

Several other brokerages have also recently issued reports on BKR. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Baker Hughes Stock Performance

Shares of BKR traded up $0.48 during mid-day trading on Wednesday, hitting $45.55. The stock had a trading volume of 490,456 shares, compared to its average volume of 5,622,324. The company has a market cap of $45.07 billion, a PE ratio of 20.43, a PEG ratio of 0.72 and a beta of 1.39. The company’s fifty day simple moving average is $42.54 and its two-hundred day simple moving average is $38.14. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.65.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of BKR. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the period. Yaupon Capital Management LP acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at about $47,296,000. Eagle Asset Management Inc. raised its stake in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares during the period. Finally, Groupama Asset Managment raised its stake in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Institutional investors and hedge funds 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.