Bed Bath & Beyond Coverage Initiated by Analysts at Morgan Stanley (BBBY)
Research analysts at Morgan Stanley began coverage on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a report released on Tuesday. The firm set an “underweight” rating and a $63.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 3.31% from the stock’s previous close.
The analysts wrote, “unattractive.”
Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.16% on Tuesday, hitting $61.075. 1,636,751 shares of the company’s stock traded hands. Bed Bath & Beyond has a one year low of $59.89 and a one year high of $80.82. The stock’s 50-day moving average is $61.31 and its 200-day moving average is $66.95. The company has a market cap of $12.304 billion and a P/E ratio of 12.73.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wolfe Research downgraded shares of Bed Bath & Beyond to an “underperform” rating in a research note on Tuesday, June 10th. Separately, analysts at Wolfe downgraded shares of Bed Bath & Beyond from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 10th. They now have a $55.00 price target on the stock. Finally, 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. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $73.05.
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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