Bed Bath & Beyond Given New $79.00 Price Target at Telsey Advisory Group (BBBY)
Telsey Advisory Group cut their price objective on shares of Bed Bath & Beyond (NASDAQ:BBBY) from $85.00 to $79.00 in a research note issued on Thursday, AmericanBankingNews.com reports. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s price objective indicates a potential downside of 0.85% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Bed Bath & Beyond from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $78.00 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Bed Bath & Beyond from $84.00 to $73.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Finally, analysts at UBS AG reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note to investors on Monday. They now have a $84.00 price target on the stock, up previously from $80.00. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.91.
Bed Bath & Beyond (NASDAQ:BBBY) traded down 12.15% on Thursday, hitting $70.00. The stock had a trading volume of 6,183,579 shares. Bed Bath & Beyond has a one year low of $54.62 and a one year high of $80.82. The stock has a 50-day moving average of $78.17 and a 200-day moving average of $76.0. The company has a market cap of $14.752 billion and a price-to-earnings ratio of 16.59. Bed Bath & Beyond also was the recipient of some unusual options trading on Monday. Stock investors bought 7,935 put options on the company. This is an increase of approximately 644% compared to the typical daily volume of 1,066 put options.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings data on Wednesday, January 8th. The company reported $1.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.15 by $0.03. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the company posted $1.03 earnings per share. Bed Bath & Beyond’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post $5.00 earnings per share for the current fiscal year.
Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).
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