Best Buy Co., Inc. (NYSE:BBY) received a $70.00 price target from analysts at SunTrust Banks, Inc. in a research note issued to investors on Saturday. The brokerage presently has a “buy” rating on the technology retailer’s stock. SunTrust Banks, Inc.’s target price suggests a potential upside of 29.29% from the company’s previous close.

A number of other research firms have also commented on BBY. Piper Jaffray Companies raised Best Buy Co. from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $44.85 to $55.00 in a report on Monday, March 27th. Vetr lowered Best Buy Co. from a “hold” rating to a “sell” rating and set a $44.50 target price for the company. in a report on Monday, March 27th. Loop Capital reissued a “buy” rating and issued a $58.00 target price on shares of Best Buy Co. in a report on Tuesday, April 4th. Sanford C. Bernstein reissued a “sell” rating on shares of Best Buy Co. in a report on Saturday, April 8th. Finally, Deutsche Bank AG raised Best Buy Co. from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, April 11th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.76.

Shares of Best Buy Co. (NYSE:BBY) traded up 0.33% during midday trading on Friday, reaching $54.14. The company had a trading volume of 4,666,534 shares. The company has a 50-day moving average price of $56.72 and a 200 day moving average price of $49.72. Best Buy Co. has a one year low of $31.91 and a one year high of $61.95. The company has a market capitalization of $16.51 billion, a P/E ratio of 14.57 and a beta of 1.44.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 25th. The technology retailer reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The company had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that Best Buy Co. will post $3.89 earnings per share for the current fiscal year.

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In other Best Buy Co. news, insider Asheesh Saksena sold 22,255 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the sale, the insider now directly owns 82,440 shares of the company’s stock, valued at $4,588,610.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mathew Watson sold 503 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $59.00, for a total value of $29,677.00. Following the sale, the vice president now directly owns 15,767 shares in the company, valued at $930,253. The disclosure for this sale can be found here. Insiders sold 129,364 shares of company stock worth $7,487,321 over the last quarter. 1.21% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Foster & Motley Inc. bought a new stake in shares of Best Buy Co. during the first quarter valued at $250,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Best Buy Co. by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,302 shares of the technology retailer’s stock valued at $2,866,000 after buying an additional 4,732 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Best Buy Co. by 9.1% in the first quarter. Geode Capital Management LLC now owns 3,494,964 shares of the technology retailer’s stock valued at $171,592,000 after buying an additional 292,667 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Best Buy Co. by 7.2% in the first quarter. Xact Kapitalforvaltning AB now owns 49,669 shares of the technology retailer’s stock valued at $2,441,000 after buying an additional 3,342 shares during the last quarter. Finally, Intrust Bank NA boosted its stake in shares of Best Buy Co. by 4.5% in the first quarter. Intrust Bank NA now owns 4,998 shares of the technology retailer’s stock valued at $246,000 after buying an additional 216 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

About Best Buy Co.

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Analyst Recommendations for Best Buy Co. (NYSE:BBY)

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