Bed Bath & Beyond Inc. (NASDAQ:BBBY) Receives $5.23 Consensus PT from Brokerages

Bed Bath & Beyond Inc. (NASDAQ:BBBYGet Rating) has received an average recommendation of “Reduce” from the fourteen research firms that are covering the firm, Marketbeat reports. Thirteen analysts have rated the stock with a sell recommendation and one has issued a hold recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.23.

Several research analysts have weighed in on the company. Robert W. Baird reiterated an “underperform” rating on shares of Bed Bath & Beyond in a research report on Friday, September 2nd. Wedbush cut Bed Bath & Beyond from a “neutral” rating to an “underperform” rating and set a $5.00 price target on the stock. in a research report on Thursday, August 18th. Raymond James cut Bed Bath & Beyond from a “market perform” rating to an “underperform” rating in a research report on Thursday, September 1st. B. Riley cut Bed Bath & Beyond from a “neutral” rating to a “sell” rating and set a $5.00 price target on the stock. in a research report on Tuesday, August 16th. Finally, Odeon Capital Group upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $7.50 price target on the stock in a research report on Friday, September 30th.

Bed Bath & Beyond Stock Up 4.9 %

BBBY opened at $3.33 on Tuesday. Bed Bath & Beyond has a 1-year low of $3.04 and a 1-year high of $30.06. The stock’s fifty day simple moving average is $5.04 and its 200 day simple moving average is $7.09. The company has a current ratio of 1.04, a quick ratio of 0.18 and a debt-to-equity ratio of 6.77. The stock has a market cap of $267.60 million, a PE ratio of -0.24 and a beta of 1.55.

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) last posted its quarterly earnings data on Thursday, September 29th. The retailer reported ($3.22) earnings per share for the quarter, missing the consensus estimate of ($1.59) by ($1.63). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Bed Bath & Beyond had a negative return on equity of 90.91% and a negative net margin of 16.98%. The firm’s quarterly revenue was down 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. As a group, research analysts expect that Bed Bath & Beyond will post -8.9 earnings per share for the current year.

Institutional Trading of Bed Bath & Beyond

A number of hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Bed Bath & Beyond during the third quarter valued at about $201,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Bed Bath & Beyond during the third quarter valued at about $2,521,000. Alliancebernstein L.P. boosted its stake in shares of Bed Bath & Beyond by 89.9% during the third quarter. Alliancebernstein L.P. now owns 302,028 shares of the retailer’s stock valued at $1,839,000 after purchasing an additional 142,970 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Bed Bath & Beyond during the third quarter valued at about $789,000. Finally, Vanguard Group Inc. lifted its stake in shares of Bed Bath & Beyond by 3.4% in the third quarter. Vanguard Group Inc. now owns 8,205,843 shares of the retailer’s stock worth $49,974,000 after acquiring an additional 273,384 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

About Bed Bath & Beyond

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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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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