StockNews.com Downgrades Baidu (NASDAQ:BIDU) to Hold

Baidu (NASDAQ:BIDU) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

BIDU has been the subject of a number of other research reports. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Monday, November 25th. Citigroup lowered their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday. Benchmark reiterated a “buy” rating and set a $130.00 target price on shares of Baidu in a report on Wednesday. Finally, Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Trading Down 2.4 %

Shares of NASDAQ:BIDU traded down $2.13 during mid-day trading on Wednesday, reaching $88.03. 8,023,925 shares of the company were exchanged, compared to its average volume of 5,101,006. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market cap of $30.87 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.23 and a beta of 0.46. The firm’s 50-day simple moving average is $87.12 and its 200 day simple moving average is $88.83. Baidu has a 1 year low of $77.19 and a 1 year high of $116.25.

Institutional Investors Weigh In On Baidu

A number of hedge funds and other institutional investors have recently modified their holdings of BIDU. Advisors Asset Management Inc. raised its stake in Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after acquiring an additional 140 shares in the last quarter. Denver PWM LLC raised its stake in Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after acquiring an additional 220 shares in the last quarter. Intellectus Partners LLC raised its stake in Baidu by 1.4% during the 4th quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock worth $1,414,000 after acquiring an additional 235 shares in the last quarter. US Bancorp DE raised its stake in Baidu by 7.2% during the 4th quarter. US Bancorp DE now owns 4,036 shares of the information services provider’s stock worth $340,000 after acquiring an additional 270 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after acquiring an additional 308 shares in the last quarter.

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.