Baker Hughes, a GE company Class A (BHGE) Earns “Overweight” Rating from Morgan Stanley

Baker Hughes, a GE company Class A (NASDAQ:BHGE)‘s stock had its “overweight” rating reissued by equities research analysts at Morgan Stanley in a research note issued to investors on Monday, July 17th, Marketbeat reports. They currently have a $60.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 74.98% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. FBR & Co assumed coverage on Baker Hughes, a GE company Class A in a report on Monday, July 17th. They issued a “market perform” rating and a $42.00 price target for the company. BMO Capital Markets reissued a “hold” rating and issued a $43.00 price target (down previously from $65.00) on shares of Baker Hughes, a GE company Class A in a report on Thursday, July 13th. HSBC Holdings plc started coverage on Baker Hughes, a GE company Class A in a report on Thursday, July 13th. They set a “buy” rating and a $48.00 target price for the company. Zacks Investment Research raised Baker Hughes, a GE company Class A from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, July 10th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $55.00 target price on shares of Baker Hughes, a GE company Class A in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $46.89.

Shares of Baker Hughes, a GE company Class A (NASDAQ BHGE) traded down 1.18% during trading on Monday, hitting $34.29. 1,193,191 shares of the stock traded hands. Baker Hughes, a GE company Class A has a 1-year low of $33.44 and a 1-year high of $40.82. The company’s market cap is $14.68 billion. The stock has a 50-day moving average of $39.70 and a 200 day moving average of $54.17.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last issued its quarterly earnings results on Friday, July 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.27. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.35 billion. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.90) earnings per share. On average, equities research analysts predict that Baker Hughes, a GE company Class A will post $0.47 EPS for the current fiscal year.

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In other news, Director John G. Rice acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average price of $35.37 per share, for a total transaction of $176,850.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $176,850. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Worrell purchased 2,801 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $35.24 per share, for a total transaction of $98,707.24. Following the acquisition, the chief financial officer now owns 2,801 shares in the company, valued at $98,707.24. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Baker Hughes, a GE company Class A stock. New Mexico Educational Retirement Board acquired a new position in Baker Hughes, a GE company Class A (NASDAQ:BHGE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 39,592 shares of the company’s stock, valued at approximately $1,461,000.

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

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