Best Buy Co. Downgraded to Market Perform at Oppenheimer (BBY)
Best Buy Co. (NYSE:BBY) was downgraded by Oppenheimer from a “buy” rating to a “market perform” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
Best Buy Co. (NYSE:BBY) traded down 27.50% during mid-day trading on Thursday, hitting $27.24. The stock had a trading volume of 40,927,424 shares. Best Buy Co. has a 52 week low of $13.83 and a 52 week high of $44.66. The stock has a 50-day moving average of $40.13 and a 200-day moving average of $37.21. The company’s market cap is $9.425 billion. Best Buy Co. also was the target of unusually large options trading activity on Tuesday. Stock investors acquired 46,371 call options on the company. This represents an increase of 184% compared to the average daily volume of 16,326 call options.
Best Buy Co. (NYSE:BBY) last announced its earnings results 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 $2.44 EPS for the current fiscal year.
BBY has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Thursday. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Wednesday, January 8th. Finally, 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Best Buy Co. has an average rating of “Buy” and a consensus price target of $47.94.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.