BidaskClub Upgrades Baidu (NASDAQ:BIDU) to Sell

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

BIDU has been the topic of several other reports. KeyCorp set a $220.00 price objective on Baidu and gave the stock an overweight rating in a report on Tuesday, April 23rd. They noted that the move was a valuation call. UBS Group lowered Baidu from a buy rating to a neutral rating in a research report on Monday, May 20th. Daiwa Capital Markets set a $215.00 target price on Baidu and gave the stock a buy rating in a research report on Friday, March 8th. ValuEngine upgraded Baidu from a sell rating to a hold rating in a research report on Thursday, April 4th. Finally, Barclays decreased their target price on Baidu from $210.00 to $200.00 and set an equal weight rating for the company in a research report on Monday, February 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $191.69.

BIDU stock opened at $115.37 on Tuesday. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a 52-week low of $106.80 and a 52-week high of $274.00. The company has a market cap of $38.36 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 5.97 and a beta of 1.69.

Baidu declared that its board has initiated a share buyback plan on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in BIDU. Bank of Montreal Can lifted its position in Baidu by 219.8% during the first quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after acquiring an additional 544,799 shares during the last quarter. Polen Capital Management LLC lifted its position in Baidu by 19.3% during the fourth quarter. Polen Capital Management LLC now owns 38,666 shares of the information services provider’s stock worth $6,132,000 after acquiring an additional 6,267 shares during the last quarter. Pzena Investment Management LLC lifted its position in Baidu by 9.8% during the fourth quarter. Pzena Investment Management LLC now owns 429,238 shares of the information services provider’s stock worth $68,078,000 after acquiring an additional 38,419 shares during the last quarter. Strs Ohio acquired a new stake in Baidu during the first quarter worth approximately $9,891,000. Finally, YorkBridge Wealth Partners LLC lifted its position in Baidu by 8.6% during the first quarter. YorkBridge Wealth Partners LLC now owns 2,739 shares of the information services provider’s stock worth $452,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 59.78% of the company’s stock.

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.

Read More: What is the Federal Reserve?

Analyst Recommendations for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.