Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, August 4th.
BBBY has been the topic of a number of other reports. KeyCorp reduced their price target on shares of Bed Bath & Beyond from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Thursday, April 12th. Raymond James cut shares of Bed Bath & Beyond from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 12th. UBS Group cut shares of Bed Bath & Beyond to an “underperform” rating in a research report on Thursday, April 12th. Wedbush reduced their price target on shares of Bed Bath & Beyond from $23.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 12th. Finally, ValuEngine raised shares of Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 13th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. Bed Bath & Beyond has an average rating of “Hold” and an average target price of $20.00.
Shares of Bed Bath & Beyond traded down $0.30, reaching $18.14, during midday trading on Friday, MarketBeat Ratings reports. The company had a trading volume of 2,096,621 shares, compared to its average volume of 3,033,225. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 0.62. The firm has a market cap of $2.58 billion, a P/E ratio of 5.81 and a beta of 0.96. Bed Bath & Beyond has a 1-year low of $16.52 and a 1-year high of $29.63.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, June 27th. The retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Bed Bath & Beyond had a net margin of 3.18% and a return on equity of 14.73%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business posted $0.58 earnings per share. Bed Bath & Beyond’s revenue for the quarter was up .4% compared to the same quarter last year. sell-side analysts expect that Bed Bath & Beyond will post 2.33 EPS for the current year.
In other news, insider Eugene A. Castagna sold 25,000 shares of the business’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $20.81, for a total transaction of $520,250.00. Following the transaction, the insider now directly owns 124,255 shares in the company, valued at approximately $2,585,746.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in BBBY. Arnhold LLC bought a new stake in Bed Bath & Beyond in the 1st quarter valued at about $2,219,000. Pastel & Associes SA boosted its holdings in Bed Bath & Beyond by 72.8% in the 2nd quarter. Pastel & Associes SA now owns 333,000 shares of the retailer’s stock valued at $6,635,000 after purchasing an additional 140,300 shares during the period. Swiss National Bank boosted its holdings in Bed Bath & Beyond by 2.2% in the 1st quarter. Swiss National Bank now owns 249,400 shares of the retailer’s stock valued at $5,235,000 after purchasing an additional 5,400 shares during the period. Royal Bank of Canada boosted its holdings in Bed Bath & Beyond by 8.1% in the 1st quarter. Royal Bank of Canada now owns 114,975 shares of the retailer’s stock valued at $2,414,000 after purchasing an additional 8,628 shares during the period. Finally, Psagot Investment House Ltd. bought a new stake in Bed Bath & Beyond in the 1st quarter valued at about $194,000. Institutional investors own 90.55% of the company’s stock.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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