Barnes & Noble Education Inc. (BNED) Lifted to Buy at Zacks Investment Research
Barnes & Noble Education Inc. (NYSE:BNED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $11.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 17.65% from the stock’s current price.
According to Zacks, “Barnes & Noble Education, Inc. is engaged in creating and operating campus bookstores for academic institutions under multi-year management service agreements. The Company’s products and services include Textbook and Course Material Sales, Textbook and Course Material Rentals, General Merchandise, Trade, Digital Education Platform, e-commerce Platform, FacultyEnlight, Campus Connect Technologies platform and Flexible Course Fee Solution. It operates primarily in the United States. Barnes & Noble Education, Inc. is based in Basking Ridge, United States. “
Separately, BWS Financial assumed coverage on shares of Barnes & Noble Education in a research report on Tuesday, October 11th. They issued a “strong-buy” rating and a $14.00 target price for the company.
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Shares of Barnes & Noble Education (NYSE:BNED) traded down 2.60% during midday trading on Monday, hitting $9.35. 115,137 shares of the stock traded hands. The company’s market capitalization is $430.77 million. The firm’s 50-day moving average is $10.11 and its 200 day moving average is $10.20. Barnes & Noble Education has a 52 week low of $8.15 and a 52 week high of $15.49.
Barnes & Noble Education (NYSE:BNED) last announced its earnings results on Thursday, September 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by $0.02. The business earned $239.20 million during the quarter, compared to the consensus estimate of $245.58 million. Barnes & Noble Education had a negative net margin of 0.05% and a positive return on equity of 2.22%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) EPS. Equities analysts forecast that Barnes & Noble Education will post $0.44 earnings per share for the current year.
A number of large investors have recently bought and sold shares of BNED. Fox Run Management L.L.C. purchased a new stake in Barnes & Noble Education during the third quarter valued at $107,000. SECOR Capital Advisors LP purchased a new stake in Barnes & Noble Education during the second quarter valued at $121,000. BNP Paribas Arbitrage SA boosted its stake in Barnes & Noble Education by 86.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,362 shares of the company’s stock valued at $125,000 after buying an additional 5,729 shares in the last quarter. Airain ltd purchased a new stake in Barnes & Noble Education during the second quarter valued at $129,000. Finally, Profund Advisors LLC boosted its stake in Barnes & Noble Education by 10.3% in the second quarter. Profund Advisors LLC now owns 12,840 shares of the company’s stock valued at $130,000 after buying an additional 1,196 shares in the last quarter. 66.66% of the stock is owned by institutional investors and hedge funds.
About Barnes & Noble Education
Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.
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