Bed Bath & Beyond PT Lowered to $58.00 (BBBY)
Wedbush dropped their target price on shares of Bed Bath & Beyond (NASDAQ:BBBY) to $58.00 in a research note issued on Thursday. Wedbush’s price target would indicate a potential downside of 5.09% from the stock’s previous close.
A number of other firms have also recently commented on BBBY. Analysts at Barclays reiterated an “overweight” rating on shares of Bed Bath & Beyond in a research note on Thursday. They now have a $70.00 price target on the stock, down previously from $80.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note on Thursday. They now have a $70.00 price target on the stock, down previously from $72.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Bed Bath & Beyond in a research note on Thursday. They now have a $54.00 price target on the stock, down previously from $58.00. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $69.03.
Bed Bath & Beyond (NASDAQ:BBBY) traded down 9.16% during mid-day trading on Thursday, hitting $55.51. 10,531,611 shares of the company’s stock traded hands. Bed Bath & Beyond has a 1-year low of $59.89 and a 1-year high of $80.82. The stock’s 50-day moving average is $61. and its 200-day moving average is $66.70. The company has a market cap of $11.183 billion and a price-to-earnings ratio of 12.76. Bed Bath & Beyond also saw some unusual options trading on Wednesday. Investors bought 16,617 call options on the company. This represents an increase of 274% compared to the typical volume of 4,448 call options.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by $0.02. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 1.7% 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.
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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