Piper Jaffray Reiterates “Buy” Rating for Best Buy Co (BBY)
Several other analysts have also recently commented on the stock. Analysts at Bank of America reiterated a “buy” rating on shares of Best Buy Co in a research note on Friday, April 4th. Separately, analysts at Zacks upgraded shares of Best Buy Co from an “underperform” rating to a “neutral” rating in a research note on Friday, April 4th. They now have a $28.00 price target on the stock. Finally, analysts at Ned Davis Research downgraded shares of Best Buy Co from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. Best Buy Co has an average rating of “Buy” and an average target price of $42.00.
Best Buy Co (NYSE:BBY) traded up 0.43% during mid-day trading on Monday, hitting $25.60. The stock had a trading volume of 699,725 shares. Best Buy Co has a 1-year low of $22.15 and a 1-year high of $44.66. The stock’s 50-day moving average is $25.75 and its 200-day moving average is $31.46. The company has a market cap of $8.884 billion and a P/E ratio of 16.62.
Best Buy Co (NYSE:BBY) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.23. The company had revenue of $14.47 billion for the quarter, compared to the consensus estimate of $14.66 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that Best Buy Co will post $2.20 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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