Best Buy Co., Inc. (NYSE:BBY) has been given a $33.00 target price by stock analysts at Wedbush in a report issued on Monday. The brokerage presently has a “sell” rating on the technology retailer’s stock. Wedbush’s target price points to a potential downside of 41.78% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Loop Capital restated a “buy” rating and issued a $72.00 price objective on shares of Best Buy Co. in a research report on Wednesday, August 16th. Royal Bank Of Canada boosted their price objective on Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. Deutsche Bank AG restated a “buy” rating and issued a $58.00 price objective (down from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price objective on shares of Best Buy Co. in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $58.97.

Shares of Best Buy Co. (BBY) traded up $0.75 on Monday, hitting $56.68. The company had a trading volume of 3,899,400 shares, compared to its average volume of 4,424,113. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. Best Buy Co. has a one year low of $37.65 and a one year high of $63.32. The company has a market capitalization of $16,957.78, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.14 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last released its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. Best Buy Co.’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. research analysts anticipate that Best Buy Co. will post 4.06 earnings per share for the current fiscal year.

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In related news, CFO Corie S. Barry sold 3,426 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total value of $187,333.68. Following the transaction, the chief financial officer now directly owns 57,903 shares of the company’s stock, valued at approximately $3,166,136.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the transaction, the chief financial officer now directly owns 54,159 shares in the company, valued at $3,245,207.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,259 shares of company stock worth $9,182,693. 0.84% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Best Buy Co. by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,828,752 shares of the technology retailer’s stock worth $276,833,000 after purchasing an additional 154,426 shares during the period. Bank of New York Mellon Corp grew its position in Best Buy Co. by 27.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after purchasing an additional 866,787 shares during the period. Renaissance Technologies LLC grew its position in shares of Best Buy Co. by 762.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after acquiring an additional 3,119,700 shares during the period. APG Asset Management N.V. grew its position in shares of Best Buy Co. by 27.6% during the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock valued at $190,263,000 after acquiring an additional 723,500 shares during the period. Finally, LSV Asset Management grew its position in shares of Best Buy Co. by 3.5% during the 2nd quarter. LSV Asset Management now owns 2,015,293 shares of the technology retailer’s stock valued at $115,536,000 after acquiring an additional 69,000 shares during the period. 87.52% 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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