Stock Traders Buy High Volume of Best Buy Co Call Options (BBY)
Best Buy Co (NYSE:BBY) was the target of unusually large options trading on Monday. Investors bought 15,639 call options on the stock, American Banking and Market News reports. This is an increase of 145% compared to the typical daily volume of 6,374 call options.
A number of research firms have recently commented on BBY. Analysts at Citigroup Inc. raised their price target on shares of Best Buy Co from $31.00 to $36.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley reiterated a “buy” rating on shares of Best Buy Co in a research note on Wednesday, June 25th. Finally, analysts at Morgan Stanley initiated coverage on shares of Best Buy Co in a research note on Tuesday, June 24th. They set an “overweight” rating and a $36.00 price target on the stock. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $40.08.
Best Buy Co (NYSE:BBY) traded up 2.47% on Monday, hitting $29.91. 3,516,258 shares of the company’s stock traded hands. Best Buy Co has a 52 week low of $22.15 and a 52 week high of $44.66. The stock’s 50-day moving average is $30.35 and its 200-day moving average is $27.20. The company has a market cap of $10.433 billion and a P/E ratio of 9.53.
Best Buy Co (NYSE:BBY) last released its earnings data on Thursday, May 22nd. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.13. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts predict that Best Buy Co will post $2.28 earnings per share for the current fiscal year.
Best Buy Co, Inc is a multinational, multichannel retailer of technology products, including tablets and computers, televisions, mobile phones, large and small appliances, entertainment products, digital imaging and related accessories.
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