Weekly Analysts’ Ratings Changes for Best Buy (BBY)

Several analysts have recently updated their ratings and price targets for Best Buy (NYSE: BBY):

  • 2/2/2018 – Best Buy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $84.00 price target on the stock. According to Zacks, “Best Buy’s extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors bode well. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue” aimed to explore growth opportunities and optimize cost. These efforts have helped the stock to outpace the industry in a year and continue register top and bottom-line growth in spite of prevailing headwinds. Certainly, tough retail landscape, aggressive promotional strategies and waning store traffic remain matters of concern. Further, analysts believe that higher investments may strain margins to an extent. Moreover, the company’s lower-than-expected third-quarter results due to lack of new mobile launches also add to woes but that did not deter management to provide an upbeat outlook for fiscal 2018.”
  • 2/2/2018 – Best Buy was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 1/30/2018 – Best Buy had its price target raised by analysts at Barclays PLC from $80.00 to $85.00. They now have an “overweight” rating on the stock.
  • 1/25/2018 – Best Buy was downgraded by analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating. They now have a $81.00 price target on the stock, up previously from $62.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/16/2018 – Best Buy was given a new $80.00 price target on by analysts at Loop Capital. They now have a “buy” rating on the stock.
  • 1/8/2018 – Best Buy was given a new $38.00 price target on by analysts at Wedbush. They now have a “sell” rating on the stock.

Best Buy Co Inc (NYSE:BBY) traded up $2.42 during mid-day trading on Wednesday, hitting $72.52. The stock had a trading volume of 3,602,708 shares, compared to its average volume of 3,475,616. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The company has a market cap of $21,200.00, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11. Best Buy Co Inc has a 12 month low of $41.67 and a 12 month high of $78.59.

Best Buy (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 consensus estimate of $0.78. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. analysts predict that Best Buy Co Inc will post 4.04 EPS for the current fiscal year.

In other Best Buy news, insider Shari L. Ballard sold 40,018 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $56.18, for a total value of $2,248,211.24. Following the completion of the transaction, the insider now owns 99,304 shares in the company, valued at approximately $5,578,898.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Richard M. Schulze sold 250,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.83, for a total value of $16,707,500.00. Following the completion of the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $115,782,975. The disclosure for this sale can be found here. Insiders have sold a total of 3,134,253 shares of company stock valued at $191,063,125 in the last quarter. 0.84% of the stock is owned by corporate insiders.

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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