Deutsche Bank lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a report published on Friday morning, Briefing.com Automated Import reports. Deutsche Bank currently has $147.00 target price on the information services provider’s stock.

BIDU has been the topic of a number of other reports. Zacks Investment Research raised Baidu from a strong sell rating to a hold rating in a research note on Tuesday, March 26th. Daiwa Capital Markets set a $215.00 price target on Baidu and gave the company a buy rating in a research note on Friday, March 8th. KeyCorp set a $236.00 price target on Baidu and gave the company a positive rating in a research note on Wednesday, January 23rd. BidaskClub raised Baidu from a strong sell rating to a sell rating in a research note on Thursday, April 4th. Finally, Benchmark reissued a buy rating and set a $245.00 price target (down from $260.00) on shares of Baidu in a research note on Friday, February 22nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Baidu currently has a consensus rating of Hold and a consensus target price of $207.21.

Shares of BIDU stock traded down $25.39 during mid-day trading on Friday, reaching $128.31. 29,265,111 shares of the stock traded hands, compared to its average volume of 3,083,209. Baidu has a 1-year low of $126.91 and a 1-year high of $274.00. The firm has a market capitalization of $53.69 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 4.39 and a beta of 1.44. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.31.

Baidu declared that its board has approved a share buyback program on Thursday, May 16th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of BIDU. FMR LLC increased its holdings in Baidu by 149.7% in the first quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock worth $13,674,000 after purchasing an additional 49,735 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Baidu by 14.6% in the first quarter. IHT Wealth Management LLC now owns 3,877 shares of the information services provider’s stock worth $639,000 after purchasing an additional 495 shares in the last quarter. Covenant Partners LLC bought a new stake in Baidu in the first quarter worth approximately $661,000. Wunderlich Capital Managemnt increased its holdings in Baidu by 3.8% in the first quarter. Wunderlich Capital Managemnt now owns 7,428 shares of the information services provider’s stock worth $1,224,000 after purchasing an additional 269 shares in the last quarter. Finally, RMB Capital Management LLC bought a new stake in Baidu in the first quarter worth approximately $383,000. 60.69% of the stock is currently owned by institutional investors.

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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