Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) was upgraded by investment analysts at Odeon Capital Group from a “sell” rating to a “hold” rating in a research report issued on Friday, Briefing.com reports. The firm presently has a $7.50 target price on the retailer’s stock. Odeon Capital Group’s target price indicates a potential upside of 21.16% from the company’s previous close.
A number of other research analysts also recently weighed in on BBBY. Wells Fargo & Company lowered their price target on Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, June 8th. UBS Group lowered their price target on Bed Bath & Beyond from $12.00 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, June 22nd. Raymond James downgraded Bed Bath & Beyond from a “market perform” rating to an “underperform” rating in a research note on Thursday, September 1st. Bank of America lowered their target price on Bed Bath & Beyond from $8.00 to $3.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 22nd. Finally, Robert W. Baird restated an “underperform” rating on shares of Bed Bath & Beyond in a research note on Friday, September 2nd. Thirteen investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $6.50.
Bed Bath & Beyond Stock Down 4.2 %
Shares of Bed Bath & Beyond stock opened at $6.19 on Friday. The stock’s fifty day moving average is $9.07 and its 200-day moving average is $11.13. The firm has a market capitalization of $494.95 million, a PE ratio of -0.63 and a beta of 1.55. The company has a quick ratio of 0.15, a current ratio of 1.02 and a debt-to-equity ratio of 6.77. Bed Bath & Beyond has a 12-month low of $4.38 and a 12-month high of $30.06.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its earnings results on Thursday, September 29th. The retailer reported ($3.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.59) by ($1.63). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Bed Bath & Beyond had a negative return on equity of 90.91% and a negative net margin of 11.74%. The firm’s revenue for the quarter was down 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. Equities analysts anticipate that Bed Bath & Beyond will post -6.79 earnings per share for the current year.
Insider Transactions at Bed Bath & Beyond
In related news, major shareholder Ryan Cohen sold 5,000,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $21.17, for a total transaction of $105,850,000.00. Following the completion of the transaction, the insider now owns 2,780,000 shares of the company’s stock, valued at approximately $58,852,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Ryan Cohen sold 5,000,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $21.17, for a total transaction of $105,850,000.00. Following the completion of the transaction, the insider now owns 2,780,000 shares of the company’s stock, valued at approximately $58,852,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gustavo Arnal sold 42,513 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $24.22, for a total value of $1,029,664.86. Following the transaction, the chief financial officer now directly owns 267,896 shares of the company’s stock, valued at approximately $6,488,441.12. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Bed Bath & Beyond
Large investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new position in Bed Bath & Beyond in the 1st quarter valued at approximately $64,000. BDO Wealth Advisors LLC raised its holdings in Bed Bath & Beyond by 1,836.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer’s stock valued at $65,000 after acquiring an additional 2,755 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in Bed Bath & Beyond in the 1st quarter valued at approximately $92,000. Covestor Ltd raised its holdings in Bed Bath & Beyond by 15,521.2% in the 1st quarter. Covestor Ltd now owns 5,155 shares of the retailer’s stock valued at $116,000 after acquiring an additional 5,122 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Bed Bath & Beyond by 16.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,652 shares of the retailer’s stock worth $172,000 after buying an additional 1,109 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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