Zacks Investment Research Downgrades Baidu (BIDU) to Sell

Zacks Investment Research lowered shares of Baidu (NASDAQ:BIDU) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “

A number of other analysts have also recently issued reports on the company. Susquehanna Bancshares started coverage on Baidu in a report on Friday, September 7th. They set a positive rating and a $325.00 price objective on the stock. BidaskClub cut Baidu from a sell rating to a strong sell rating in a report on Friday, August 31st. Nomura dropped their price objective on Baidu from $283.00 to $206.00 and set a neutral rating on the stock in a report on Thursday, November 1st. Benchmark dropped their price objective on Baidu from $300.00 to $260.00 and set a buy rating on the stock in a report on Wednesday, October 31st. Finally, ValuEngine cut Baidu from a hold rating to a sell rating in a report on Thursday, September 6th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $277.15.

Shares of BIDU opened at $179.56 on Wednesday. The stock has a market cap of $62.66 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. Baidu has a 52-week low of $174.66 and a 52-week high of $284.22.

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Investors Inc. PA bought a new position in Baidu in the 2nd quarter worth about $108,000. Flagship Harbor Advisors LLC bought a new position in Baidu in the 2nd quarter worth about $119,000. Toronto Dominion Bank increased its stake in Baidu by 5,050.0% in the 3rd quarter. Toronto Dominion Bank now owns 618 shares of the information services provider’s stock worth $141,000 after acquiring an additional 606 shares during the last quarter. Centaurus Financial Inc. bought a new position in Baidu in the 2nd quarter worth about $150,000. Finally, CENTRAL TRUST Co increased its stake in Baidu by 116.0% in the 3rd quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock worth $170,000 after acquiring an additional 398 shares during the last quarter. 60.81% of the stock is currently owned by institutional investors and hedge funds.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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