Wolfe Downgrades Bed Bath & Beyond to Underperform (BBBY)
Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by analysts at Wolfe to an “underperform” rating in a research report issued to clients and investors on Tuesday. They currently have a $55.00 price objective on the stock. Wolfe’s price objective indicates a potential downside of 11.50% from the stock’s previous close.
Bed Bath & Beyond (NASDAQ:BBBY) traded down 1.26% on Tuesday, hitting $61.37. 1,914,565 shares of the company’s stock traded hands. Bed Bath & Beyond has a one year low of $60.29 and a one year high of $80.82. The stock’s 50-day moving average is $61. and its 200-day moving average is $68.12. The company has a market cap of $12.364 billion and a P/E ratio of 12.97.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $1.60 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.60. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. On average, analysts predict that Bed Bath & Beyond will post $5.05 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BBBY. Analysts at Zacks reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note on Thursday, April 24th. They now have a $66.00 price target on the stock. Separately, analysts at Williams Capital cut their price target on shares of Bed Bath & Beyond from $94.00 to $78.00 in a research note on Monday, April 14th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $73.10.
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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