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Best Buy Co (NYSE:BBY) has earned a “BB-” credit rating from Morningstar. The credit rating agency’s “BB-” rating indicates that the company is an above-average default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.

Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Best Buy Co from $35.00 to $37.00 in a research note on Wednesday, August 27th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Best Buy Co from $34.00 to $36.00 in a research note on Wednesday, August 27th. They now have an “outperform” rating on the stock. Finally, analysts at Piper Jaffray reiterated a “buy” rating on shares of Best Buy Co in a research note on Friday, August 22nd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.25.

Best Buy Co (NYSE:BBY) opened at 31.35 on Wednesday. Best Buy Co has a 1-year low of $22.15 and a 1-year high of $44.66. The stock’s 50-day moving average is $30.42 and its 200-day moving average is $27.8. The company has a market cap of $10.951 billion and a price-to-earnings ratio of 11.70. Best Buy Co also was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 27,793,796 shares, a growth of 13.1% from the July 31st total of 24,579,290 shares. Based on an average daily volume of 2,938,124 shares, the days-to-cover ratio is currently 9.5 days. Approximately 9.8% of the company’s stock are short sold.

Best Buy Co (NYSE:BBY) last announced its earnings results on Tuesday, August 26th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.13. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts expect that Best Buy Co will post $2.30 EPS for the current fiscal year.

In other Best Buy Co news, major shareholder Richard M. Schulze unloaded 1,600 shares of the company’s stock on the open market in a transaction dated Thursday, August 28th. The shares were sold at an average price of $31.81, for a total transaction of $50,896.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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.

To view more credit ratings from Morningstar, visit www.morningstar.com.

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