Best Buy Co Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:BBY)
Best Buy Co (NYSE:BBY) has earned an average recommendation of “Buy” from the twenty-one analysts that are covering the company, American Banking News.com reports. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $40.92.
Best Buy Co (NYSE:BBY) traded up 1.83% during mid-day trading on Friday, hitting $31.70. The stock had a trading volume of 1,380,146 shares. Best Buy Co has a one year low of $22.15 and a one year high of $44.66. The stock has a 50-day moving average of $30.31 and a 200-day moving average of $27.40. The company has a market cap of $11.057 billion and a price-to-earnings ratio of 10.17. Best Buy Co also was the target of some unusual options trading activity on Tuesday. Investors purchased 15,748 put options on the company. This is an increase of 511% compared to the average daily volume of 2,577 put options.
BBY has been the subject of a number of recent research reports. Analysts at Piper Jaffray reiterated a “buy” rating on shares of Best Buy Co in a research note on Friday. Separately, 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. Finally, analysts at Morgan Stanley reiterated a “buy” rating on shares of Best Buy Co in a research note on Wednesday, June 25th.
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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