Bed Bath & Beyond Stock Rating Reaffirmed by Citigroup Inc. (BBBY)
Bed Bath & Beyond (NASDAQ:BBBY)‘s stock had its “neutral” rating reaffirmed by stock analysts at Citigroup Inc. in a report issued on Thursday. They currently have a $70.00 price target on the stock, down from their previous price target of $72.00. Citigroup Inc.’s target price points to a potential upside of 14.55% from the stock’s previous close.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 9.23% on Thursday, hitting $55.4726. 10,536,613 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 $11.176 billion and a price-to-earnings ratio of 12.76. Bed Bath & Beyond also saw some unusual options trading on Wednesday. Stock investors purchased 16,617 call options on the stock. This represents an increase of approximately 274% compared to the typical daily volume of 4,448 call options.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings data 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. 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 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. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note on Thursday. They now have a $65.00 price target on the stock, down previously from $75.00. Finally, analysts at Telsey Advisory Group cut their price target on shares of Bed Bath & Beyond from $68.00 to $60.00 in a research note on Thursday. They now have a “not rated” rating on the stock. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $69.03.
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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