Barclays Downgrades Baidu (NASDAQ:BIDU) to Equal Weight

Barclays downgraded shares of Baidu (NASDAQ:BIDU) from an overweight rating to an equal weight rating in a report issued on Friday morning, Marketbeat Ratings reports.

A number of other brokerages have also commented on BIDU. Mizuho dropped their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Bank of America dropped their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, September 24th. Eight research 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 stock currently has a consensus rating of “Hold” and a consensus target price of $119.36.

Baidu Stock Performance

Shares of Baidu stock opened at $80.33 on Friday. The company has a market capitalization of $28.17 billion, a PE ratio of 10.58 and a beta of 0.51. Baidu has a one year low of $78.95 and a one year high of $126.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a 50-day simple moving average of $93.70 and a two-hundred day simple moving average of $92.66.

Hedge Funds Weigh In On Baidu

Institutional investors have recently added to or reduced their stakes in the company. Guinness Asset Management LTD increased its holdings in Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after buying an additional 100 shares during the period. Grove Bank & Trust grew its stake in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Baidu by 5.2% during the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after buying an additional 140 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after acquiring an additional 171 shares in the last quarter. Finally, Intellectus Partners LLC grew its position in Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after acquiring an additional 250 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.