Zacks Investment Research upgraded shares of Baidu (NASDAQ:BIDU) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “

Several other research analysts also recently commented on the company. Citigroup reduced their price objective on Baidu from $295.00 to $265.00 and set an outperform rating on the stock in a report on Friday, October 12th. They noted that the move was a valuation call. UBS Group set a $280.00 price objective on Baidu and gave the stock a buy rating in a report on Tuesday, October 9th. BidaskClub downgraded Baidu from a sell rating to a strong sell rating in a report on Saturday, October 6th. Credit Suisse Group set a $313.00 price objective on Baidu and gave the stock a buy rating in a report on Monday, October 1st. Finally, ValuEngine downgraded Baidu from a hold rating to a sell rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Baidu presently has an average rating of Buy and a consensus target price of $292.95.

BIDU opened at $203.21 on Tuesday. The firm has a market cap of $79.30 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 0.97 and a beta of 1.49. Baidu has a 52 week low of $189.00 and a 52 week high of $284.22. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25.

Baidu declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Several large investors have recently made changes to their positions in BIDU. Advisors Asset Management Inc. increased its holdings in shares of Baidu by 31,003.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,103,867 shares of the information services provider’s stock valued at $1,547,000 after acquiring an additional 1,100,318 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Baidu by 51.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock valued at $708,826,000 after acquiring an additional 990,424 shares during the period. Waddell & Reed Financial Inc. purchased a new position in shares of Baidu in the 2nd quarter valued at $222,598,000. Mainstay Capital Management LLC ADV purchased a new position in shares of Baidu in the 2nd quarter valued at $3,069,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Baidu by 1,443.7% in the 2nd quarter. Acadian Asset Management LLC now owns 679,601 shares of the information services provider’s stock valued at $165,141,000 after acquiring an additional 635,577 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Baidu Company Profile

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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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