Best Buy Co. Inc. Hits New 52-Week High at $39.30 (BBY)
Shares of Best Buy Co. (NYSE:BBY) hit a new 52-week high during mid-day trading on Thursday, Stock Ratings Network reports. The stock traded as high as $39.30 and last traded at $39.00, with a volume of 11,484,095 shares trading hands. The stock had previously closed at $36.26.
BBY has been the subject of a number of recent research reports. Analysts at Bank of America Corp. reiterated a “hold” rating on shares of Best Buy Co. in a research note to investors on Monday, September 23rd. They now have a $38.00 price target on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Best Buy Co. from $38.00 to $50.00 in a research note to investors on Monday, September 23rd. They now have an “overweight” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy Co. in a research note to investors on Tuesday, September 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $38.78.
In other Best Buy Co. news, major shareholder Richard M. Schulze unloaded 1,708,334 shares of the stock on the open market in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $37.78, for a total transaction of $64,540,858.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Best Buy Co. has a 52 week low of $11.20 and a 52 week high of $39.28. The stock has a 50-day moving average of $37.25 and a 200-day moving average of $29.69. The company’s market cap is $13.319 billion. Best Buy Co. also saw unusually large options trading activity on Tuesday. Stock investors acquired 18,484 call options on the stock. This is an increase of 412% compared to the typical volume of 3,607 call options.
Best Buy Co. (NYSE:BBY) last released its earnings data on Tuesday, August 20th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.20. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter last year, the company posted $0.26 earnings per share. Best Buy Co.’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that Best Buy Co. will post $2.39 earnings per share for the current fiscal year.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
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