Best Buy (NYSE:BBY) received a $45.00 price objective from analysts at Wedbush in a research note issued on Sunday, March 4th. The brokerage presently has a “sell” rating on the technology retailer’s stock. Wedbush’s price target would indicate a potential downside of 34.25% from the stock’s previous close. Wedbush also issued estimates for Best Buy’s Q1 2019 earnings at $0.72 EPS, Q3 2019 earnings at $1.02 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $2.50 EPS, Q4 2019 earnings at $2.45 EPS, FY2019 earnings at $5.00 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $0.91 EPS, Q3 2020 earnings at $1.07 EPS, Q4 2020 earnings at $2.58 EPS and FY2020 earnings at $5.32 EPS.
Several other equities research analysts have also recently weighed in on BBY. KeyCorp reissued a “hold” rating on shares of Best Buy in a research report on Friday, November 10th. Jefferies Group reaffirmed a “hold” rating and issued a $60.00 target price on shares of Best Buy in a research report on Monday, November 13th. They noted that the move was a valuation call. Zacks Investment Research raised Best Buy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a research report on Thursday, November 16th. Finally, Loop Capital set a $72.00 target price on Best Buy and gave the stock a “buy” rating in a research report on Thursday, November 16th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Best Buy has an average rating of “Hold” and a consensus price target of $69.42.
Shares of Best Buy stock opened at $68.44 on Friday. Best Buy has a 1-year low of $43.72 and a 1-year high of $78.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. The firm has a market cap of $20,033.13, a PE ratio of 20.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09.
In other news, CEO Hubert Joly sold 240,468 shares of the firm’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $69.61, for a total value of $16,738,977.48. Following the completion of the sale, the chief executive officer now directly owns 698,769 shares in the company, valued at $48,641,310.09. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerard R. Vittecoq sold 23,684 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $74.12, for a total value of $1,755,458.08. Following the completion of the sale, the director now owns 40,128 shares of the company’s stock, valued at $2,974,287.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 356,785 shares of company stock valued at $24,999,914. 0.84% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Best Buy by 31.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,279,548 shares of the technology retailer’s stock worth $361,491,000 after buying an additional 1,264,528 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Best Buy by 7.5% during the 4th quarter. APG Asset Management N.V. now owns 3,590,588 shares of the technology retailer’s stock valued at $204,736,000 after purchasing an additional 250,300 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Best Buy by 61.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,379,200 shares of the technology retailer’s stock valued at $231,374,000 after purchasing an additional 1,280,600 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Best Buy by 7.2% during the 4th quarter. LSV Asset Management now owns 2,347,893 shares of the technology retailer’s stock valued at $160,760,000 after purchasing an additional 156,800 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Best Buy by 13.8% during the 4th quarter. Allianz Asset Management GmbH now owns 2,130,632 shares of the technology retailer’s stock valued at $145,884,000 after purchasing an additional 258,020 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was originally reported by BBNS and is owned by of BBNS. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://baseballnewssource.com/2018/03/22/wedbush-analysts-give-best-buy-bby-a-45-00-price-target/1971140.html.
Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.