Baidu (NASDAQ:BIDU) Stock Rating Lowered by China Renaissance

China Renaissance cut shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports. The firm currently has $86.00 price objective on the information services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group cut their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Tuesday, September 24th. Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Benchmark cut their price objective on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Mizuho reduced their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.92.

Baidu Stock Performance

Shares of BIDU opened at $84.82 on Monday. Baidu has a 12-month low of $78.95 and a 12-month high of $123.74. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The company has a market cap of $29.74 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. The stock has a 50-day moving average price of $93.59 and a 200-day moving average price of $91.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BIDU. World Investment Advisors LLC purchased a new stake in Baidu during the 3rd quarter valued at $72,000. Coldstream Capital Management Inc. purchased a new stake in shares of Baidu during the third quarter worth about $653,000. Public Employees Retirement System of Ohio bought a new stake in shares of Baidu in the third quarter worth about $5,009,000. Y Intercept Hong Kong Ltd purchased a new position in Baidu during the 3rd quarter valued at about $3,660,000. Finally, MML Investors Services LLC raised its position in Baidu by 453.5% during the 3rd quarter. MML Investors Services LLC now owns 13,877 shares of the information services provider’s stock valued at $1,461,000 after purchasing an additional 11,370 shares during the last quarter.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.