Baidu (BIDU) Rating Lowered to Hold at Macquarie

Baidu (NASDAQ:BIDU) was downgraded by Macquarie to a “hold” rating in a research report issued on Friday, TipRanks reports.

BIDU has been the topic of a number of other research reports. KeyCorp set a $220.00 price objective on Baidu and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Daiwa Capital Markets set a $215.00 price objective on Baidu and gave the stock a “buy” rating in a research note on Friday, March 8th. ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. BidaskClub downgraded Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer reduced their price objective on Baidu from $230.00 to $210.00 and set an “outperform” rating on the stock in a research note on Monday, January 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $207.21.

NASDAQ:BIDU traded down $25.39 during trading hours on Friday, reaching $128.31. The stock had a trading volume of 28,140,857 shares, compared to its average volume of 3,373,385. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.73. Baidu has a 52 week low of $126.91 and a 52 week high of $274.00. The company has a market cap of $53.27 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 4.35 and a beta of 1.44.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Baidu by 219.8% during the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock valued at $130,674,000 after purchasing an additional 544,799 shares during the last quarter. Polen Capital Management LLC increased its position in shares of Baidu by 19.3% during the 4th quarter. Polen Capital Management LLC now owns 38,666 shares of the information services provider’s stock valued at $6,132,000 after purchasing an additional 6,267 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Baidu by 9.8% during the 4th quarter. Pzena Investment Management LLC now owns 429,238 shares of the information services provider’s stock valued at $68,078,000 after purchasing an additional 38,419 shares during the last quarter. Strs Ohio bought a new position in shares of Baidu during the 1st quarter valued at approximately $9,891,000. Finally, Jacobs & Co. CA bought a new position in shares of Baidu during the 1st quarter valued at approximately $2,144,000. 60.69% 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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