Bed Bath & Beyond (NYSE:BBBY) Shares Gap Down – What’s Next?

Bed Bath & Beyond, Inc. (NYSE:BBBY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.75, but opened at $11.19. Bed Bath & Beyond shares last traded at $11.65, with a volume of 766,240 shares trading hands.

Wall Street Analyst Weigh In

BBBY has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Saturday, September 27th. Finally, Wedbush increased their price objective on Bed Bath & Beyond from $10.00 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $8.86.

Bed Bath & Beyond Stock Up 2.1%

The company has a fifty day moving average price of $9.41 and a two-hundred day moving average price of $7.15. The firm has a market capitalization of $689.03 million, a price-to-earnings ratio of -2.95 and a beta of 2.76.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.15. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.The firm had revenue of $282.25 million during the quarter, compared to the consensus estimate of $250.37 million. During the same period last year, the company earned ($0.76) earnings per share. The company’s revenue for the quarter was down 29.1% on a year-over-year basis. On average, equities analysts anticipate that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bed Bath & Beyond

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Bed Bath & Beyond by 85.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock worth $25,000 after purchasing an additional 1,669 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Bed Bath & Beyond during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Bed Bath & Beyond by 104.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company’s stock worth $32,000 after purchasing an additional 2,823 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Bed Bath & Beyond by 25.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock valued at $39,000 after acquiring an additional 1,133 shares during the period. Finally, Platform Technology Partners purchased a new stake in shares of Bed Bath & Beyond during the 1st quarter worth $59,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Bed Bath & Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.