Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Consensus Recommendation of “Hold” from Brokerages

Bed Bath & Beyond, Inc. (NYSE:BBBY) has earned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.6667.

BBBY has been the topic of a number of recent analyst reports. Weiss Ratings lowered Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Zacks Research upgraded Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wedbush increased their price target on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd.

Insider Activity at Bed Bath & Beyond

In related news, Director Joanna M. Burkey sold 9,943 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the transaction, the director owned 32,474 shares in the company, valued at approximately $207,184.12. This represents a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Able Wealth Management LLC purchased a new position in shares of Bed Bath & Beyond in the fourth quarter valued at $4,612,000. WMG Financial Advisors LLC bought a new position in Bed Bath & Beyond in the 4th quarter worth about $507,000. GSA Capital Partners LLP bought a new position in Bed Bath & Beyond in the 4th quarter worth about $920,000. ProShare Advisors LLC bought a new position in Bed Bath & Beyond in the 4th quarter worth about $3,290,000. Finally, Lane Brothers & Co. Inc. bought a new stake in shares of Bed Bath & Beyond during the fourth quarter valued at about $142,000. Institutional investors own 76.30% of the company’s stock.

Bed Bath & Beyond Stock Performance

Bed Bath & Beyond stock opened at $5.79 on Friday. Bed Bath & Beyond has a fifty-two week low of $4.26 and a fifty-two week high of $12.65. The firm’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $5.59. The stock has a market cap of $427.89 million, a PE ratio of -6.09 and a beta of 2.86.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings data on Monday, April 27th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%. The firm had revenue of $248.00 million during the quarter. As a group, analysts predict that Bed Bath & Beyond will post -0.79 EPS for the current fiscal year.

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.