Bed Bath & Beyond (NASDAQ:BBBY) had its price target boosted by Bank of America from $12.50 to $14.50 in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the retailer’s stock.
Several other equities analysts have also commented on the company. Cfra decreased their price target on Bed Bath & Beyond from $5.00 to $3.00 and set a sell rating for the company in a report on Thursday, April 16th. ValuEngine raised shares of Bed Bath & Beyond from a hold rating to a buy rating in a research report on Wednesday, April 15th. Wells Fargo & Co raised their price target on shares of Bed Bath & Beyond from $4.00 to $6.00 and gave the company an underweight rating in a report on Wednesday, June 10th. Credit Suisse Group dropped their price target on shares of Bed Bath & Beyond from $9.00 to $7.00 and set a neutral rating on the stock in a research note on Thursday, April 16th. Finally, Odeon Capital Group raised shares of Bed Bath & Beyond from a hold rating to a buy rating in a research report on Tuesday, May 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $10.53.
NASDAQ:BBBY opened at $10.82 on Friday. The firm’s fifty day simple moving average is $7.96 and its 200 day simple moving average is $10.14. The company has a current ratio of 1.55, a quick ratio of 0.70 and a debt-to-equity ratio of 1.87. Bed Bath & Beyond has a twelve month low of $3.43 and a twelve month high of $17.79. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.22 and a beta of 2.41.
Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, April 15th. The retailer reported $0.38 EPS for the quarter, beating the consensus estimate of $0.20 by $0.18. Bed Bath & Beyond had a positive return on equity of 3.03% and a negative net margin of 5.50%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $1.20 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post -2.28 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Bed Bath & Beyond during the 4th quarter valued at approximately $3,294,000. Alberta Investment Management Corp acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $2,074,000. Norges Bank acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $42,426,000. BNP Paribas Arbitrage SA lifted its position in shares of Bed Bath & Beyond by 140.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 308,811 shares of the retailer’s stock worth $1,300,000 after buying an additional 180,213 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Bed Bath & Beyond by 127.8% in the 4th quarter. Alliancebernstein L.P. now owns 754,975 shares of the retailer’s stock valued at $13,061,000 after buying an additional 423,606 shares during the period.
About Bed Bath & Beyond
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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