Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by research analysts at Loop Capital from a “hold” rating to a “sell” rating in a research note issued on Monday, The Fly reports.
Several other brokerages also recently commented on BBBY. BidaskClub raised shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Wolfe Research reissued an “underperform” rating and set a $12.00 target price (up previously from $9.00) on shares of Bed Bath & Beyond in a research note on Friday, January 11th. Telsey Advisory Group restated a “market perform” rating and issued a $13.00 price target (down from $16.00) on shares of Bed Bath & Beyond in a report on Friday, January 4th. Bank of America set a $11.00 price objective on shares of Bed Bath & Beyond and gave the company a “sell” rating in a report on Thursday, January 10th. Finally, Citigroup reduced their price objective on shares of Bed Bath & Beyond from $13.00 to $10.00 and set a “sell” rating for the company in a report on Monday, December 3rd. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.07.
Bed Bath & Beyond stock opened at $15.42 on Monday. Bed Bath & Beyond has a twelve month low of $10.46 and a twelve month high of $23.42. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 4.94, a P/E/G ratio of 7.71 and a beta of 1.14. The company has a current ratio of 1.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.51.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, January 9th. The retailer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.04 billion. Bed Bath & Beyond had a net margin of 2.50% and a return on equity of 11.08%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. As a group, equities analysts forecast that Bed Bath & Beyond will post 2 earnings per share for the current fiscal year.
In other Bed Bath & Beyond news, Director Jordan Heller sold 19,554 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $15.26, for a total transaction of $298,394.04. Following the sale, the director now owns 5,647 shares in the company, valued at approximately $86,173.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its position in shares of Bed Bath & Beyond by 29.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,276 shares of the retailer’s stock valued at $37,000 after buying an additional 737 shares during the last quarter. Caption Management LLC raised its position in shares of Bed Bath & Beyond by 3.6% during the fourth quarter. Caption Management LLC now owns 29,000 shares of the retailer’s stock valued at $329,000 after buying an additional 1,000 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Bed Bath & Beyond by 9.1% during the fourth quarter. Victory Capital Management Inc. now owns 43,064 shares of the retailer’s stock valued at $487,000 after buying an additional 3,594 shares during the last quarter. Comerica Bank grew its holdings in shares of Bed Bath & Beyond by 4.1% in the fourth quarter. Comerica Bank now owns 98,351 shares of the retailer’s stock valued at $1,446,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Bed Bath & Beyond by 1,508.4% in the fourth quarter. Parallel Advisors LLC now owns 4,793 shares of the retailer’s stock valued at $54,000 after purchasing an additional 4,495 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
See Also: Hedge Funds
Receive News & Ratings for Bed Bath & Beyond Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond and related companies with MarketBeat.com's FREE daily email newsletter.