Baidu (BIDU) Cut to “Sell” at Zacks Investment Research

Baidu (NASDAQ:BIDU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

Other research analysts have also issued reports about the company. reaffirmed a “buy” rating and issued a $282.00 target price (up from $245.00) on shares of Baidu in a research report on Wednesday, September 27th. UBS Group raised Baidu from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Jefferies Group increased their target price on Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Vetr lowered Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 target price on the stock. in a research report on Wednesday, September 13th. Finally, Bank of America reaffirmed a “buy” rating and issued a $263.00 target price on shares of Baidu in a research report on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $238.19.

Shares of Baidu (BIDU) traded up $8.19 during trading on Tuesday, hitting $242.40. The company’s stock had a trading volume of 2,690,388 shares, compared to its average volume of 2,280,000. Baidu has a one year low of $163.56 and a one year high of $274.97. The stock has a market cap of $84,060.00, a price-to-earnings ratio of 34.58, a PEG ratio of 1.41 and a beta of 1.89. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.34.

Several institutional investors have recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC grew its stake in shares of Baidu by 1.9% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 1,809 shares of the information services provider’s stock valued at $324,000 after acquiring an additional 33 shares in the last quarter. Norinchukin Bank The grew its stake in shares of Baidu by 0.7% during the second quarter. Norinchukin Bank The now owns 8,496 shares of the information services provider’s stock valued at $1,520,000 after acquiring an additional 58 shares in the last quarter. San Francisco Sentry Investment Group CA grew its stake in shares of Baidu by 5.4% during the second quarter. San Francisco Sentry Investment Group CA now owns 1,365 shares of the information services provider’s stock valued at $244,000 after acquiring an additional 70 shares in the last quarter. YorkBridge Wealth Partners LLC grew its stake in shares of Baidu by 8.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,126 shares of the information services provider’s stock valued at $383,000 after acquiring an additional 170 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in shares of Baidu by 10.6% during the third quarter. Rehmann Capital Advisory Group now owns 2,113 shares of the information services provider’s stock valued at $523,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 63.95% of the company’s stock.

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About Baidu

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

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