Bed Bath & Beyond (NASDAQ:BBBY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $17.00 target price on the retailer’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.61% from the company’s current price.
According to Zacks, “Bed Bath & Beyond outperformed the industry in the past month, thanks to progress on reaching its long-term financial targets. The company expects moderating operating profit and earnings per share declines in fiscal 2018 and 2019. It also anticipates witnessing earnings per share growth by fiscal 2020. Further, the company boasts a solid surprise trend, with earnings beat in four of the last five quarters, including the third quarter of fiscal 2018. Though sales missed estimates for the second straight quarter, it grew year over year due to gains from transformation efforts and other customer-centric initiatives. The company’s store-growth initiatives and shareholder-friendly moves are also commendable. However, the company is witnessing soft comps for a while now, which is expected to inch down 1% in fiscal 2018. Also, the company's long trend of strained margins, owing to higher spending, is likely to persist in fiscal 2018.”
A number of other equities research analysts have also issued reports on the company. Bank of America set a $11.00 target price on Bed Bath & Beyond and gave the stock a “sell” rating in a research report on Thursday. Wolfe Research reiterated an “underperform” rating and set a $12.00 price target (up previously from $9.00) on shares of Bed Bath & Beyond in a research note on Friday. Wedbush decreased their target price on Bed Bath & Beyond from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Co restated a “sell” rating and set a $11.00 target price on shares of Bed Bath & Beyond in a research note on Monday, January 7th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $13.00 target price (down previously from $16.00) on shares of Bed Bath & Beyond in a research note on Friday, January 4th. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.07.
Shares of NASDAQ BBBY traded up $0.14 during midday trading on Monday, hitting $15.37. The stock had a trading volume of 366,504 shares, compared to its average volume of 17,131,627. The firm has a market capitalization of $1.69 billion, a P/E ratio of 4.91, a P/E/G ratio of 6.08 and a beta of 0.90. Bed Bath & Beyond has a 1-year low of $10.46 and a 1-year high of $24.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.60.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, January 9th. The retailer reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Bed Bath & Beyond had a return on equity of 11.08% and a net margin of 2.50%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $0.44 EPS. Bed Bath & Beyond’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Bed Bath & Beyond will post 2.02 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. GAM Holding AG raised its holdings in shares of Bed Bath & Beyond by 42.8% in the 3rd quarter. GAM Holding AG now owns 196,807 shares of the retailer’s stock worth $2,952,000 after buying an additional 59,008 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Bed Bath & Beyond by 12.5% in the 3rd quarter. Hsbc Holdings PLC now owns 190,307 shares of the retailer’s stock worth $2,855,000 after buying an additional 21,199 shares in the last quarter. FMR LLC raised its holdings in shares of Bed Bath & Beyond by 4.2% in the 3rd quarter. FMR LLC now owns 14,451,051 shares of the retailer’s stock worth $216,766,000 after buying an additional 582,329 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bed Bath & Beyond by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,641,692 shares of the retailer’s stock worth $52,636,000 after buying an additional 297,632 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Bed Bath & Beyond by 115,725.0% in the 3rd quarter. Advisory Services Network LLC now owns 46,330 shares of the retailer’s stock worth $695,000 after buying an additional 46,290 shares in the last quarter. 97.45% of the stock is owned by institutional investors and hedge funds.
Bed Bath & Beyond Company Profile
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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