Baidu (NASDAQ:BIDU) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a sell rating in a research report report published on Wednesday morning, BidAskClub reports.

Several other brokerages have also recently commented on BIDU. Macquarie set a $131.00 target price on shares of Baidu and gave the stock a hold rating in a report on Thursday, July 4th. Zacks Investment Research raised shares of Baidu from a strong sell rating to a hold rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. assumed coverage on shares of Baidu in a research report on Wednesday, July 10th. They issued an overweight rating for the company. Jefferies Financial Group assumed coverage on shares of Baidu in a research report on Monday, August 5th. They issued a buy rating and a $132.00 price target for the company. Finally, Credit Suisse Group reissued an outperform rating on shares of Baidu in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $165.84.

Shares of BIDU opened at $101.85 on Wednesday. Baidu has a one year low of $93.39 and a one year high of $234.88. The company has a 50-day moving average of $108.14 and a two-hundred day moving average of $140.12. The stock has a market cap of $37.69 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 18.36 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. grew its holdings in Baidu by 111.1% during the second quarter. Nomura Holdings Inc. now owns 85,542 shares of the information services provider’s stock valued at $10,094,000 after purchasing an additional 45,013 shares during the last quarter. Cresset Asset Management LLC grew its holdings in Baidu by 86.3% during the second quarter. Cresset Asset Management LLC now owns 5,894 shares of the information services provider’s stock valued at $692,000 after purchasing an additional 2,730 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Baidu by 12.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,294 shares of the information services provider’s stock valued at $1,091,000 after purchasing an additional 1,048 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in Baidu during the second quarter valued at approximately $27,000. Finally, Colony Group LLC acquired a new position in Baidu during the second quarter valued at approximately $217,000. 58.10% of the stock is currently owned by hedge funds and other institutional investors.

About Baidu

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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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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