Baidu (NASDAQ:BIDU) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

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. “

BIDU has been the topic of several other reports. Loop Capital initiated coverage on TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They set a buy rating on the stock. Credit Suisse Group set a GBX 3,090 ($40.38) price target on Royal Dutch Shell and gave the company a buy rating in a research note on Wednesday. Benchmark lowered their price target on Baidu from $245.00 to $180.00 and set a buy rating on the stock in a research note on Friday, May 17th. Deutsche Bank boosted their price target on Walmart from $118.00 to $120.00 and gave the company a buy rating in a research note on Friday, May 17th. Finally, Macquarie set a $131.00 price target on Baidu and gave the company a hold rating in a research note on Thursday, July 4th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. Baidu presently has a consensus rating of Hold and an average price target of $178.17.



Shares of BIDU opened at $112.25 on Wednesday. Baidu has a 12-month low of $106.80 and a 12-month high of $265.73. 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 company has a market capitalization of $39.05 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 6.03 and a beta of 1.64. The firm’s 50-day moving average price is $114.24.

Baidu announced that its board has authorized a stock repurchase plan on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge funds have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. grew its stake in shares of Baidu by 71.2% in the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 84 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Baidu in the 1st quarter valued at approximately $45,000. Executive Wealth Management LLC bought a new stake in shares of Baidu in the 4th quarter valued at approximately $45,000. Creative Financial Designs Inc. ADV grew its stake in shares of Baidu by 4,837.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 387 shares during the period. Finally, Private Capital Group LLC grew its stake in shares of Baidu by 49.5% in the 1st quarter. Private Capital Group LLC now owns 423 shares of the information services provider’s stock valued at $70,000 after purchasing an additional 140 shares during the period. Institutional investors own 59.32% 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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