Bed Bath & Beyond Receives Buy Rating from Argus (BBBY)
Bed Bath & Beyond (NASDAQ:BBBY)‘s stock had its “buy” rating reaffirmed by equities researchers at Argus in a research report issued on Wednesday. They currently have a $60.64 price target on the stock, down from their previous price target of $80.00.
Bed Bath & Beyond (NASDAQ:BBBY) opened at 60.64 on Wednesday. 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 $61.29 and its 200-day moving average is $66.82. The company has a market cap of $12.217 billion and a P/E ratio of 12.66.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, April 9th. The company reported $1.60 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that Bed Bath & Beyond will post $5.05 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BBBY. Analysts at Morgan Stanley initiated coverage on shares of Bed Bath & Beyond in a research note on Tuesday. They set an “underweight” rating and a $63.00 price target on the stock. Separately, analysts at Wolfe Research downgraded shares of Bed Bath & Beyond to an “underperform” rating in a research note on Tuesday, June 10th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.08.
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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