Wedbush Issues Pessimistic Forecast for Bed Bath & Beyond (NYSE:BBBY) Stock Price

Bed Bath & Beyond (NYSE:BBBY) had its price objective decreased by Wedbush from $13.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 35.53% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Barclays set a $8.00 target price on Bed Bath & Beyond and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Bed Bath & Beyond Stock Up 2.5%

Shares of BBBY stock opened at $5.17 on Wednesday. The stock has a market capitalization of $355.66 million, a PE ratio of -1.84 and a beta of 2.99. Bed Bath & Beyond has a 52-week low of $3.54 and a 52-week high of $12.65. The stock’s 50-day moving average price is $6.04 and its 200 day moving average price is $7.55.

Institutional Investors Weigh In On Bed Bath & Beyond

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter worth $12,594,000. Geode Capital Management LLC acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at about $8,890,000. State Street Corp purchased a new stake in Bed Bath & Beyond during the fourth quarter worth about $7,175,000. Federated Hermes Inc. acquired a new position in Bed Bath & Beyond during the fourth quarter worth about $4,730,000. Finally, Able Wealth Management LLC purchased a new position in Bed Bath & Beyond in the fourth quarter valued at about $4,612,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

About Bed Bath & Beyond

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.