Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Average Recommendation of “Hold” by Brokerages

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.20.

Several research firms have issued reports on BBBY. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Bed Bath & Beyond in a research note on Tuesday, October 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a research report on Wednesday, October 8th. Finally, Barclays set a $8.00 price target on shares of Bed Bath & Beyond and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th.

Bed Bath & Beyond Stock Performance

Shares of NYSE BBBY opened at $6.29 on Monday. Bed Bath & Beyond has a 52-week low of $3.54 and a 52-week high of $12.65. The stock has a 50 day moving average price of $7.77 and a 200 day moving average price of $8.08. The firm has a market capitalization of $432.72 million, a price-to-earnings ratio of -2.24 and a beta of 2.77.

Institutional Trading of Bed Bath & Beyond

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Avantax Advisory Services Inc. grew its holdings in shares of Bed Bath & Beyond by 21.5% in the first quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company’s stock valued at $108,000 after purchasing an additional 3,304 shares during the period. Cetera Investment Advisers boosted its holdings in Bed Bath & Beyond by 23.4% in the 1st quarter. Cetera Investment Advisers now owns 126,530 shares of the company’s stock valued at $734,000 after purchasing an additional 23,970 shares during the last quarter. Virtu Financial LLC acquired a new position in Bed Bath & Beyond in the 1st quarter valued at about $158,000. Nuveen LLC purchased a new stake in shares of Bed Bath & Beyond in the 1st quarter valued at approximately $2,256,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Bed Bath & Beyond by 104.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company’s stock worth $32,000 after buying an additional 2,823 shares during the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

About Bed Bath & Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.