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Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by stock analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a report issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $78.00 price target on the stock, down from their previous price target of $85.00. Credit Suisse’s price target suggests a potential upside of 11.83% from the stock’s previous close.

The analysts wrote, “We also believe that a significant driver of spending in this segment will be the gradual pickup in household formation as millennials move out of their parents’ homes,” the report said. “However, we believe that the better near-term trade to play this trend remains the two home improvement names, HD and LOW, both of which will also benefit from the disintegration of Sears.”

BBBY has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Thomson Reuters/Verus downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus target price of $79.91.

Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 12.46% on Thursday, hitting $69.75. 17,536,166 shares of the company’s stock traded hands. Bed Bath & Beyond has a 52-week low of $54.62 and a 52-week high of $80.82. The stock has a 50-day moving average of $77.97 and a 200-day moving average of $75.97. The company has a market cap of $14.700 billion and a P/E ratio of 16.59. Bed Bath & Beyond also saw unusually large options trading activity on Monday. Investors acquired 7,935 put options on the stock. This represents an increase of approximately 644% compared to the average volume of 1,066 put options.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results 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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