Robert W. Baird
Robert W. Baird & Co. Incorporated
Robert W. Baird & Co. is the main US operating firm of Baird, an employee-owned investment bank and wealth manager in Milwaukee, Wisconsin, whose equity research concentrates on industrial, technology, healthcare and consumer companies.
Company history
Baird traces its founding to 1919, when Robert W. Baird led the bond house of Milwaukee's newly merged First Wisconsin banking group. Separated from the bank in 1934 as The Securities Company of Milwaukee, it joined the NYSE in 1948 and took the name Robert W. Baird & Co. Northwestern Mutual bought a majority interest in 1982, and associates bought back control in 2004. Strategas joined as a Baird company in 2018; Baird is employee-owned with more than 200 locations.
- 1919Founded in Milwaukee as the First Wisconsin Company bond house
- 1934Split from bank as The Securities Company of Milwaukee
- 1948Joined NYSE and took the Robert W. Baird name
- 1982Northwestern Mutual acquired majority ownership
- 2004Associates bought back control from Northwestern Mutual
- 2018Macro research firm Strategas joined as a Baird company
Research
Baird's equity research team comprised 90 analysts covering more than 710 stocks as of 2025, within an institutional equities group of more than 270 people in the US and UK that runs sector conferences in industrials, technology and services, healthcare and consumer. Strategas, a Baird company, supplies strategy, economics and policy research and was Extel's top-ranked macro-only firm for a ninth consecutive year in 2025. Ratings are Outperform, Neutral and Underperform relative to the broader US equity market over 12 months.
Coverage12M
- Stocks
- 676
- Ratings
- 885
- Price targets
- 1,395
- Median upside
- +16.1%
- Upgrades
- 53
- Downgrades
- 74
- Initiations
- 0
- Reiterations
- 758
- Targets raised
- 734
- Targets cut
- 482
- Positive59%289
- Neutral40%197
- Negative1%3
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 CRWDCrowdStrike Holdings, Inc. | Neutral | $235 |
 LULULululemon Athletica Inc. | Neutral | $115 |
 ADSKAutodesk, Inc. | Outperform | $325 |
 HHyatt Hotels Corporation | Neutral | $191 |
 DCIDonaldson Company, Inc. | Outperform | $105 |
 AYIAcuity Brands, Inc. | Neutral | $390 |
 BSXBoston Scientific Corporation | Outperform | $56 |
 CSLCarlisle Companies Incorporated | Outperform | $412 |
 ICLRICON Public Limited Company | Outperform | $194 |
 KEYSKeysight Technologies, Inc. | Outperform | $410 |
Analysts24M
- Luke JunkMBLY · SNA · BWA35
- David KoningCRCL · JKHY · PAY35
- Tristan GerraTXN · KN · AMD33
- Colin SebastianCART · CRSR · EBAY32
- Andrew WittmannECL · ABM · PSN32
- Eric ColdwellACH · AHCO · CRL31
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
 Okta, Inc.OKTA | Target | $185 →$200 | Sep 22 | |
| HNHinge Health, Inc.HNGE | Target | $65 →$90 | Sep 22 | |
 Nextpower Inc.NXT | Target | $156 →$116 | Sep 22 | |
| GRGRAIL, Inc.GRAL | Target | $70 →$118 | Sep 22 | |
| XEXenon Pharmaceuticals Inc.XENE | Reiterate | Outperform | $97 →$90 | Sep 18 |
| RFRegions Financial CorporationRF | Upgrade | Underperform →Neutral | Sep 18 | |
| OSOscar Health, Inc.OSCR | Reiterate | Neutral | $27 →$33 | Sep 17 |
| AHAdaptHealth Corp.AHCO | Reiterate | Outperform | $10 →$9 | Sep 17 |
 Fluence Energy, Inc.FLNC | Downgrade | Neutral →Underperform | Sep 17 |
Similar coverage12M
References
- A Tour Through Time - Bairdrwbaird.com
- Our Businesses - Baird 2025 Annual Reportrwbaird.com
- Baird Research Disclosurerwbaird.com
- Steve Booth - Baird Leadershiprwbaird.com
- David Tarantino - Bairdrwbaird.com
- Robert W. Baird & Co. Statement of Financial Condition 2025rwbaird.com