Bed Bath & Beyond Inc. (NASDAQ:BBBY)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a research note issued on Thursday, September 21st. They currently have a $25.00 target price on the retailer’s stock, down from their previous target price of $34.00. Jefferies Group LLC’s price target would indicate a potential upside of 6.52% from the stock’s previous close.
Several other brokerages have also commented on BBBY. Argus restated a “buy” rating and set a $40.00 target price (down previously from $48.00) on shares of Bed Bath & Beyond in a research report on Wednesday, June 28th. ValuEngine raised Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Tuesday, September 5th. Barclays PLC reduced their price objective on shares of Bed Bath & Beyond from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, June 23rd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $31.00 target price (down previously from $36.00) on shares of Bed Bath & Beyond in a research report on Sunday, June 25th. Nine analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.12.
Shares of Bed Bath & Beyond (NASDAQ BBBY) opened at 23.47 on Thursday. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 6.00 and a beta of 1.11. The stock’s 50 day moving average price is $28.41 and its 200-day moving average price is $33.64. Bed Bath & Beyond has a 52-week low of $22.10 and a 52-week high of $48.83.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Tuesday, September 19th. The retailer reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.28). Bed Bath & Beyond had a net margin of 4.64% and a return on equity of 21.74%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the company posted $1.11 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, analysts forecast that Bed Bath & Beyond will post $3.01 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of BBBY. Toronto Dominion Bank lifted its holdings in Bed Bath & Beyond by 19.6% during the second quarter. Toronto Dominion Bank now owns 52,735 shares of the retailer’s stock worth $1,603,000 after acquiring an additional 8,653 shares during the period. U S Global Investors Inc. purchased a new position in Bed Bath & Beyond in the second quarter worth $409,000. Nomura Holdings Inc. grew its stake in Bed Bath & Beyond by 110.8% in the 2nd quarter. Nomura Holdings Inc. now owns 26,825 shares of the retailer’s stock valued at $815,000 after purchasing an additional 275,609 shares during the period. Bank of Nova Scotia grew its stake in Bed Bath & Beyond by 1,616.3% in the 2nd quarter. Bank of Nova Scotia now owns 531,128 shares of the retailer’s stock valued at $16,147,000 after purchasing an additional 500,182 shares during the period. Finally, Rowland & Co. Investment Counsel ADV grew its stake in Bed Bath & Beyond by 20.6% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 49,448 shares of the retailer’s stock valued at $1,507,000 after purchasing an additional 8,440 shares during the period. 93.30% of the stock is owned by institutional investors.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).
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