Bed Bath & Beyond’s Overweight Rating Reaffirmed at Barclays (BBBY)
Bed Bath & Beyond (NASDAQ:BBBY)‘s stock had its “overweight” rating restated by equities researchers at Barclays in a research report issued on Thursday. They currently have a $70.00 price target on the stock, down from their previous price target of $80.00. Barclays’ price target would indicate a potential upside of 14.55% from the stock’s previous close.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 9.20% on Thursday, hitting $55.49. 10,532,211 shares of the company’s stock traded hands. Bed Bath & Beyond has a 52-week low of $59.89 and a 52-week high of $80.82. The stock has a 50-day moving average of $61. and a 200-day moving average of $66.70. The company has a market cap of $11.179 billion and a P/E ratio of 12.76. Bed Bath & Beyond also was the target of unusually large options trading on Wednesday. Traders acquired 16,617 call options on the stock. This is 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 firms have also recently commented on BBBY. 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. Separately, 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. Finally, 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. Three equities research 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 stock currently has a consensus rating of “Hold” and an average target price 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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.