Best Buy (NYSE:BBY) received a $70.00 price objective from equities research analysts at Credit Suisse Group in a report released on Wednesday. The firm currently has a “hold” rating on the technology retailer’s stock. Credit Suisse Group’s price target indicates a potential upside of 10.18% from the stock’s previous close.

A number of other research analysts also recently weighed in on BBY. Zacks Investment Research raised Best Buy from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a report on Tuesday, July 24th. ValuEngine downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Jefferies Financial Group started coverage on Best Buy in a research report on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target for the company. Wedbush set a $65.00 price target on Best Buy and gave the stock a “sell” rating in a research report on Thursday, August 23rd. Finally, Wells Fargo & Co restated a “hold” rating and issued a $78.00 price target on shares of Best Buy in a research report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.50.

BBY stock opened at $63.53 on Wednesday. Best Buy has a fifty-two week low of $55.81 and a fifty-two week high of $84.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.52 and a current ratio of 1.21. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.04 and a beta of 1.01.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.08. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.56 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. Best Buy’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Best Buy will post 5.11 earnings per share for the current year.

In related news, General Counsel Keith J. Nelsen sold 33,473 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $80.38, for a total transaction of $2,690,559.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Asheesh Saksena sold 26,309 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $80.07, for a total value of $2,106,561.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,711 shares of company stock valued at $6,081,426. Company insiders own 0.75% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. NuWave Investment Management LLC grew its position in shares of Best Buy by 7,828.4% during the third quarter. NuWave Investment Management LLC now owns 5,312 shares of the technology retailer’s stock worth $421,000 after purchasing an additional 5,245 shares in the last quarter. Andesa Financial Management Inc. purchased a new stake in shares of Best Buy during the second quarter worth about $424,000. Sawtooth Solutions LLC purchased a new stake in shares of Best Buy during the third quarter worth about $267,000. Russell Investments Group Ltd. grew its position in shares of Best Buy by 37.8% during the third quarter. Russell Investments Group Ltd. now owns 657,375 shares of the technology retailer’s stock worth $51,841,000 after purchasing an additional 180,358 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Best Buy by 1.1% during the second quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock worth $4,884,000 after purchasing an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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