Best Buy Co. Rating Reiterated by Piper Jaffray (BBY)
Best Buy Co. (NYSE:BBY)‘s stock had its “buy” rating reaffirmed by Piper Jaffray in a research note issued on Friday, Analyst Ratings Net reports. They currently have a $32.00 price objective on the stock, down from their previous price objective of $53.00. Piper Jaffray’s price objective would suggest a potential upside of 30.99% from the stock’s previous close.
Best Buy Co. (NYSE:BBY) traded down 8.95% on Friday, hitting $24.43. The stock had a trading volume of 60,431,056 shares. Best Buy Co. has a 1-year low of $13.83 and a 1-year high of $44.66. The stock’s 50-day moving average is $39.29 and its 200-day moving average is $37.09. The company’s market cap is $8.453 billion. Best Buy Co. also was the recipient of unusually large options trading on Tuesday. Stock investors acquired 46,371 call options on the stock. This is an increase of 184% compared to the typical volume of 16,326 call options.
Best Buy Co. (NYSE:BBY) last posted its earnings data on Tuesday, November 19th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ 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 $2.27 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Friday. They now have a $36.00 price target on the stock, down previously from $50.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Friday. They now have a $31.00 price target on the stock, down previously from $48.00. Finally, analysts at Bank of America Corp. upgraded shares of Best Buy Co. to a “buy” rating in a research note to investors on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. Best Buy Co. presently has an average rating of “Buy” and an average price target of $41.74.
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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