Bed Bath & Beyond Now Covered by Analysts at Nomura (BBBY)
Equities research analysts at Nomura initiated coverage on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
BBBY has been the subject of a number of other recent research reports. Analysts at Wedbush raised their price target on shares of Bed Bath & Beyond from $58.00 to $62.00 in a research note on Wednesday. Separately, analysts at ISI Group reiterated an “average” rating on shares of Bed Bath & Beyond in a research note on Tuesday. They now have a $60.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Bed Bath & Beyond to $57.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Bed Bath & Beyond currently has an average rating of “Hold” and an average price target of $67.68.
Bed Bath & Beyond (NASDAQ:BBBY) traded down 0.31% on Wednesday, hitting $60.86. The stock had a trading volume of 4,683,400 shares. Bed Bath & Beyond has a 1-year low of $54.96 and a 1-year high of $80.82. The stock’s 50-day moving average is $60.14 and its 200-day moving average is $64.77. The company has a market cap of $12.072 billion and a P/E ratio of 12.69. Bed Bath & Beyond also was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 16,370,384 shares, a growth of 50.1% from the June 13th total of 10,902,908 shares. Based on an average daily trading volume, of 5,534,741 shares, the short-interest ratio is presently 3.0 days. Approximately 8.3% of the company’s shares are sold short.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.93 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that Bed Bath & Beyond will post $4.98 EPS 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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