Baidu (NASDAQ:BIDU) Stock Rating Reaffirmed by KeyCorp

KeyCorp reiterated their overweight rating on shares of Baidu (NASDAQ:BIDU) in a report released on Friday, August 9th, BenzingaRatingsTable reports. They currently have a $148.00 price objective on the information services provider’s stock, down from their previous price objective of $160.00. The analysts noted that the move was a valuation call.

BIDU has been the subject of a number of other reports. Daiwa Capital Markets lowered shares of Baidu from a buy rating to a neutral rating in a research note on Friday, May 17th. Benchmark decreased their price target on shares of Baidu from $245.00 to $180.00 and set a buy rating for the company in a research report on Friday, May 17th. BidaskClub lowered shares of Baidu from a sell rating to a strong sell rating in a research report on Thursday, August 8th. China Renaissance Securities reissued a hold rating on shares of Baidu in a research report on Monday, April 15th. Finally, UBS Group reissued a hold rating and set a $145.00 price target on shares of Baidu in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $175.11.

BIDU stock opened at $94.35 on Friday. The firm’s fifty day simple moving average is $110.53 and its two-hundred day simple moving average is $142.30. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $34.02 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 4.95 and a beta of 1.70. Baidu has a twelve month low of $93.39 and a twelve month high of $234.88.

Baidu declared that its Board of Directors has authorized a stock buyback program on Thursday, May 16th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the information services provider to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently modified their holdings of BIDU. Motco acquired a new position in Baidu in the 2nd quarter worth approximately $28,000. Tower Research Capital LLC TRC acquired a new stake in shares of Baidu during the 2nd quarter worth approximately $31,000. American Beacon Advisors Inc. grew its stake in shares of Baidu by 71.2% during the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after purchasing an additional 84 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of Baidu during the 2nd quarter worth approximately $33,000. Finally, Lindbrook Capital LLC grew its stake in shares of Baidu by 290.5% during the 2nd quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock worth $38,000 after purchasing an additional 244 shares during the period. Institutional investors own 59.44% of the company’s stock.

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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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