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

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

A number of other brokerages have also commented on BHGE. HSBC Holdings plc assumed coverage on shares of Baker Hughes, a GE company Class A in a research note on Thursday, July 13th. They issued a “buy” rating and a $48.00 price target for the company. FBR & Co assumed 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 target for the company. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Baker Hughes, a GE company Class A in a research note on Tuesday, July 11th. BMO Capital Markets reissued a “hold” rating and issued a $43.00 price objective (down previously from $65.00) on shares of Baker Hughes, a GE company Class A in a report on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Baker Hughes, a GE company Class A from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.88.

Shares of Baker Hughes, a GE company Class A (BHGE) traded down 1.18% during midday trading on Monday, reaching $34.29. 1,193,186 shares of the company’s stock were exchanged. Baker Hughes, a GE company Class A has a 12-month low of $33.44 and a 12-month high of $68.59. The stock’s market capitalization is $14.68 billion. The firm has a 50-day moving average of $40.28 and a 200-day moving average of $54.36.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last announced its quarterly earnings results on Friday, July 28th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.27. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts anticipate 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 purchased 5,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average price of $35.37 per share, with a total value of $176,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $176,850. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian Worrell purchased 2,801 shares of the stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $35.24 per share, for a total transaction of $98,707.24. Following the acquisition, the chief financial officer now directly owns 2,801 shares of the company’s stock, 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. South Dakota Investment Council bought a new stake in Baker Hughes, a GE company Class A (NASDAQ:BHGE) during the second quarter, according to its most recent filing with the SEC. The fund bought 84,564 shares of the company’s stock, valued at approximately $4,610,000.

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