Zacks Investment Research Upgrades Baker Hughes Incorporated (BHGE) to “Hold”

Baker Hughes Incorporated (NYSE:BHGE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Baker Hughes, a GE Company is a provider of integrated oilfield products, services and digital solutions. Baker Hughes a GE Company, formerly known as Baker Hughes, is based in Houston, United States. “

Other research analysts have also issued reports about the company. Argus initiated coverage on Baker Hughes in a report on Sunday, August 27th. They set a “buy” rating on the stock. Royal Bank Of Canada set a $55.00 price target on Baker Hughes and gave the company a “buy” rating in a report on Saturday, August 12th. Cowen and Company set a $50.00 price target on Baker Hughes and gave the company a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley set a $53.00 price target on Baker Hughes and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, Citigroup Inc. lowered their price target on Baker Hughes from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. Baker Hughes presently has a consensus rating of “Hold” and a consensus target price of $40.74.

Baker Hughes (BHGE) opened at $30.51 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.90. Baker Hughes has a fifty-two week low of $29.62 and a fifty-two week high of $68.59.

Baker Hughes (NYSE:BHGE) last issued its quarterly earnings results on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. Baker Hughes’s revenue for the quarter was up 77.7% compared to the same quarter last year. equities analysts predict that Baker Hughes will post 0.41 earnings per share for the current year.

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In related news, insider Lorenzo Simonelli purchased 6,100 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $32.99 per share, for a total transaction of $201,239.00. Following the transaction, the insider now directly owns 9,139 shares of the company’s stock, valued at approximately $301,495.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthias L. Heilmann purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was bought at an average price of $30.04 per share, with a total value of $45,060.00. Following the transaction, the insider now directly owns 3,500 shares in the company, valued at $105,140. The disclosure for this purchase can be found here. 0.66% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. First Bank & Trust acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $101,000. Amica Retiree Medical Trust acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $101,000. Trust Co. of Vermont acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $105,000. Westside Investment Management Inc. acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $108,000. Finally, Sun Life Financial INC acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $115,000. Institutional investors and hedge funds own 86.33% of the company’s stock.

Analyst Recommendations for Baker Hughes (NYSE:BHGE)

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