Cowen and Company Reaffirms Outperform Rating for Baker Hughes, a GE company Class A (BHGE)

Baker Hughes, a GE company Class A (NASDAQ:BHGE)‘s stock had its “outperform” rating reiterated by equities research analysts at Cowen and Company in a research note issued on Wednesday. They presently have a $50.00 target price on the stock. Cowen and Company’s price target would suggest a potential upside of 39.04% from the stock’s current price.

Other research analysts have also issued reports about the stock. FBR & Co began coverage on shares of Baker Hughes, a GE company Class A in a research note on Monday, July 17th. They issued a “market perform” rating and a $42.00 price objective for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective (down from $67.00) on shares of Baker Hughes, a GE company Class A in a research note on Wednesday, August 9th. Seaport Global Securities reiterated a “neutral” rating on shares of Baker Hughes, a GE company Class A in a research note on Thursday, July 20th. Argus began coverage on shares of Baker Hughes, a GE company Class A in a research note on Monday, August 21st. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Barclays PLC began coverage on shares of Baker Hughes, a GE company Class A in a research note on Thursday, August 31st. They issued an “overweight” rating and a $41.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.55.

Shares of Baker Hughes, a GE company Class A (NASDAQ BHGE) opened at 35.96 on Wednesday. The company has a 50 day moving average price of $34.47 and a 200 day moving average price of $50.01. The company’s market capitalization is $15.39 billion. Baker Hughes, a GE company Class A has a 52 week low of $32.43 and a 52 week high of $68.59.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last released its quarterly earnings data on Friday, July 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.27). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned ($0.90) EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts expect that Baker Hughes, a GE company Class A will post $0.44 earnings per share for the current year.

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In other Baker Hughes, a GE company Class A news, insider Lorenzo Simonelli purchased 6,100 shares of the stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $32.99 per share, with a total value of $201,239.00. Following the completion of the purchase, the insider now directly owns 9,139 shares of the company’s stock, valued at approximately $301,495.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John G. Rice purchased 5,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $35.37 per share, with a total value of $176,850.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $176,850. The disclosure for this purchase can be found here. Insiders have bought a total of 13,901 shares of company stock valued at $476,796 over the last ninety days.

Institutional investors have recently bought and sold shares of the business. South Dakota Investment Council bought a new stake in Baker Hughes, a GE company Class A in the second quarter worth $4,610,000. New Mexico Educational Retirement Board bought a new stake in Baker Hughes, a GE company Class A in the second quarter worth $1,461,000. M&R Capital Management Inc. bought a new stake in Baker Hughes, a GE company Class A in the second quarter worth $141,000. Fairpointe Capital LLC bought a new stake in Baker Hughes, a GE company Class A in the second quarter worth $229,000. Finally, FTB Advisors Inc. bought a new stake in Baker Hughes, a GE company Class A in the second quarter worth $442,000.

Analyst Recommendations for Baker Hughes, a GE company Class A (NASDAQ:BHGE)

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