UBS AG Reiterates Hold Rating for Bed Bath & Beyond Inc. (BBBY)
Bed Bath & Beyond Inc. (NASDAQ:BBBY)‘s stock had its “hold” rating reissued by stock analysts at UBS AG in a research note issued to investors on Wednesday. They presently have a $24.00 price target on the retailer’s stock, down from their prior price target of $30.00. UBS AG’s price objective would suggest a potential upside of 7.87% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Wolfe Research lowered shares of Bed Bath & Beyond from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Monday, June 19th. Robert W. Baird reiterated a “neutral” rating and issued a $23.00 price objective (down previously from $28.00) on shares of Bed Bath & Beyond in a research note on Monday. Bank of America Corporation cut their price objective on shares of Bed Bath & Beyond from $35.00 to $30.00 and set an “underperform” rating on the stock in a research note on Friday, June 23rd. Finally, Argus reiterated a “buy” rating and issued a $40.00 price objective (down previously from $48.00) on shares of Bed Bath & Beyond in a research note on Wednesday, June 28th. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.06.
Shares of Bed Bath & Beyond (BBBY) opened at 22.25 on Wednesday. The firm has a 50-day moving average of $28.41 and a 200-day moving average of $33.64. The company has a market cap of $3.13 billion, a P/E ratio of 5.12 and a beta of 1.11. Bed Bath & Beyond has a 52-week low of $22.10 and a 52-week high of $48.83. Bed Bath & Beyond also was the target of some unusual options trading activity on Wednesday. Stock investors purchased 19,819 put options on the company. This represents an increase of approximately 857% compared to the average volume of 2,070 put options.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Tuesday, September 19th. The retailer reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.28). Bed Bath & Beyond had a net margin of 4.64% and a return on equity of 21.74%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company posted $1.11 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts forecast that Bed Bath & Beyond will post $3.30 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in BBBY. Quantbot Technologies LP acquired a new stake in Bed Bath & Beyond during the first quarter worth about $106,000. Bronfman E.L. Rothschild L.P. increased its position in Bed Bath & Beyond by 928.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock worth $117,000 after purchasing an additional 3,463 shares during the last quarter. Westside Investment Management Inc. increased its position in Bed Bath & Beyond by 15.0% during the first quarter. Westside Investment Management Inc. now owns 3,370 shares of the retailer’s stock worth $127,000 after purchasing an additional 440 shares during the last quarter. First Quadrant L P CA acquired a new stake in Bed Bath & Beyond during the second quarter worth about $141,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in Bed Bath & Beyond during the first quarter worth about $146,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).
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