Traders Purchase High Volume of Best Buy Co. Put Options (BBY)
Shares of Best Buy Co. (NYSE:BBY) was the target of some unusual options trading on Monday. Investors purchased 19,603 put options on the stock, American Banking News.com reports. This is an increase of approximately 309% compared to the average volume of 4,791 put options.
BBY has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Best Buy Co. in a research note to investors on Wednesday, December 4th. They now have a $44.00 price target on the stock. Separately, analysts at Piper Jaffray reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Wednesday, November 27th. Finally, analysts at UBS AG cut their price target on shares of Best Buy Co. from $49.00 to $48.00 in a research note to investors on Wednesday, November 20th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. Best Buy Co. currently has a consensus rating of “Buy” and a consensus target price of $48.00.
Shares of Best Buy Co. (NYSE:BBY) traded down 3.12% on Monday, hitting $39.41. The stock had a trading volume of 11,014,622 shares. Best Buy Co. has a one year low of $11.38 and a one year high of $44.66. The stock has a 50-day moving average of $40.73 and a 200-day moving average of $36.52. The company’s market cap is $13.636 billion.
Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 19th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.07. The company had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the company posted $0.03 earnings per share. Best Buy Co.’s revenue was down .2% compared to the same quarter last year. Analysts expect that Best Buy Co. will post $2.43 EPS 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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