Several brokerages have updated their recommendations and price targets on shares of Best Buy Co. (NYSE: BBY) in the last few weeks:

  • 11/17/2017 – Best Buy Co. was given a new $56.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.
  • 11/16/2017 – Best Buy Co. had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 11/16/2017 – Best Buy Co. was given a new $72.00 price target on by analysts at Loop Capital. They now have a “buy” rating on the stock.
  • 11/16/2017 – Best Buy Co. had its “buy” rating reaffirmed by analysts at Deutsche Bank AG.
  • 11/14/2017 – Best Buy Co. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns. Further, analyst believes increase in investment may strain margins in the coming quarters.”
  • 11/13/2017 – Best Buy Co. was given a new $33.00 price target on by analysts at Wedbush. They now have a “sell” rating on the stock.
  • 11/13/2017 – Best Buy Co. had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $60.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 11/10/2017 – Best Buy Co. had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/30/2017 – Best Buy Co. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”
  • 10/24/2017 – Best Buy Co. was given a new $72.00 price target on by analysts at Loop Capital. They now have a “buy” rating on the stock.
  • 10/16/2017 – Best Buy Co. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”
  • 10/13/2017 – Best Buy Co. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”
  • 10/10/2017 – Best Buy Co. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”

Best Buy Co., Inc. (NYSE BBY) opened at $56.06 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. Best Buy Co., Inc. has a 12 month low of $41.67 and a 12 month high of $63.32. The firm has a market cap of $16,900.00, a price-to-earnings ratio of 13.89, a PEG ratio of 1.16 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. Best Buy Co. had a net margin of 2.55% and a return on equity of 22.46%. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts predict that Best Buy Co., Inc. will post 4.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.43%. Best Buy Co.’s dividend payout ratio is presently 34.43%.

In related news, insider Shari L. Ballard sold 9,778 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $534,661.04. Following the sale, the insider now directly owns 84,613 shares in the company, valued at approximately $4,626,638.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hubert Joly sold 106,942 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the completion of the sale, the chief executive officer now owns 645,222 shares in the company, valued at $35,280,738.96. The disclosure for this sale can be found here. Insiders sold a total of 145,799 shares of company stock worth $7,956,730 over the last quarter. Insiders own 0.84% of the company’s stock.

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.

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