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.
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.
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