RBC Capital Believes Baker Hughes Company (BKR) Won’t Stop Here

In a report issued on January 14, Keith Mackey from RBC Capital maintained a Buy rating on Baker Hughes Company (BKRResearch Report), with a price target of $31.00. The company’s shares closed last Friday at $27.46, close to its 52-week high of $27.66.

According to TipRanks.com, Mackey is a 5-star analyst with an average return of 27.4% and a 74.8% success rate. Mackey covers the Industrial Goods sector, focusing on stocks such as Liberty Oilfield Services, Trican Well Service, and Precision Drilling.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Baker Hughes Company with a $30.39 average price target.

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Based on Baker Hughes Company’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.09 billion and net profit of $8 million. In comparison, last year the company earned revenue of $5.05 billion and had a GAAP net loss of $170 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BKR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Texas-based Baker Hughes Co. provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS).

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