Bed Bath & Beyond (NYSE:BBBY) Given New $7.00 Price Target at Wedbush

Bed Bath & Beyond (NYSE:BBBY) had its price objective decreased by investment analysts at Wedbush from $13.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 40.85% from the company’s previous close.

Several other analysts have also commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st. Barclays set a $8.00 price objective on Bed Bath & Beyond and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.00.

Bed Bath & Beyond Price Performance

Bed Bath & Beyond stock opened at $4.97 on Wednesday. Bed Bath & Beyond has a 12-month low of $3.54 and a 12-month high of $12.65. The stock has a market capitalization of $342.25 million, a PE ratio of -1.77 and a beta of 2.99. The firm has a 50 day simple moving average of $6.10 and a 200-day simple moving average of $7.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Claro Advisors Inc. acquired a new stake in Bed Bath & Beyond during the fourth quarter valued at $263,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Bed Bath & Beyond during the fourth quarter valued at approximately $105,000. Schonfeld Strategic Advisors LLC bought a new stake in Bed Bath & Beyond in the fourth quarter worth approximately $595,000. Trexquant Investment LP bought a new stake in Bed Bath & Beyond in the fourth quarter worth approximately $301,000. Finally, Jump Financial LLC acquired a new position in shares of Bed Bath & Beyond during the 4th quarter worth $317,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.