Best Buy (NYSE:BBY) Raised to Buy at Wall Street Zen

Best Buy (NYSE:BBY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other analysts have also weighed in on the stock. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $97.00 to $99.00 in a report on Tuesday, November 25th. Telsey Advisory Group increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Evercore ISI raised their price objective on shares of Best Buy from $80.00 to $85.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, Bank of America decreased their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research report on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.28.

Best Buy Stock Down 2.0%

Shares of NYSE BBY opened at $79.40 on Friday. The stock has a market cap of $16.68 billion, a P/E ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25. The business’s fifty day simple moving average is $77.97 and its 200-day simple moving average is $73.41. Best Buy has a 12-month low of $54.99 and a 12-month high of $91.72. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities analysts predict that Best Buy will post 6.18 EPS for the current fiscal year.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman directly owned 12,486,904 shares of the company’s stock, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the transaction, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,733,111 shares of company stock valued at $141,293,157 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Best Buy

Several large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its position in shares of Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 138 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Best Buy during the 3rd quarter worth $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Best Buy during the 2nd quarter worth $26,000. Root Financial Partners LLC purchased a new position in Best Buy during the 3rd quarter worth $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Best Buy in the second quarter valued at $33,000. 80.96% of the stock is owned by institutional investors and hedge funds.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.