Loop Capital began coverage on shares of Baidu (NASDAQ:BIDU) in a report released on Monday, The Fly reports. The brokerage issued a hold rating on the information services provider’s stock.

Other analysts have also issued research reports about the company. BidaskClub raised Baidu from a sell rating to a hold rating in a report on Wednesday, April 10th. Credit Suisse Group set a $221.00 price target on Baidu and gave the company a buy rating in a report on Wednesday, April 10th. Nomura cut their price target on Baidu from $181.00 to $147.00 and set a neutral rating for the company in a report on Monday, May 20th. Morgan Stanley set a $175.00 price target on Baidu and gave the company a hold rating in a report on Tuesday, March 26th. Finally, Mizuho cut their price target on Baidu from $215.00 to $205.00 and set a buy rating for the company in a report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $196.13.

NASDAQ:BIDU opened at $107.78 on Monday. Baidu has a 52-week low of $106.80 and a 52-week high of $274.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76. The stock has a market cap of $38.43 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 5.98 and a beta of 1.69.

Baidu declared that its Board of Directors has approved a stock buyback plan on Thursday, May 16th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors have recently made changes to their positions in BIDU. Norges Bank purchased a new position in shares of Baidu in the fourth quarter valued at about $526,416,000. Harris Associates L P lifted its position in shares of Baidu by 49.6% in the fourth quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock valued at $500,422,000 after acquiring an additional 1,046,123 shares in the last quarter. BlackRock Inc. lifted its position in shares of Baidu by 4.3% in the first quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after acquiring an additional 653,684 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Baidu by 219.8% in the first quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock valued at $130,674,000 after acquiring an additional 544,799 shares in the last quarter. Finally, Investec Asset Management LTD lifted its position in shares of Baidu by 23.4% in the fourth quarter. Investec Asset Management LTD now owns 2,551,426 shares of the information services provider’s stock valued at $404,656,000 after acquiring an additional 484,147 shares in the last quarter. Institutional investors and hedge funds own 59.68% of the company’s stock.

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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