Bed Bath & Beyond Inc. (NASDAQ:BBBY) Receives Average Recommendation of “Reduce” from Analysts


Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) has earned a consensus recommendation of “Reduce” from the fifteen brokerages that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.42.

Several research firms have weighed in on BBBY. Odeon Capital Group cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. KeyCorp lowered their objective price on shares of Bed Bath & Beyond from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, June 28th. Wells Fargo & Company lowered their objective price on shares of Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, June 8th. Morgan Stanley lowered their objective price on shares of Bed Bath & Beyond from $7.00 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, June 30th. Finally, Telsey Advisory Group lowered their price objective on shares of Bed Bath & Beyond from $6.00 to $3.00 and set an “underperform” rating for the company in a research report on Thursday, June 30th.

Insider buying and selling

In other news, Director Jeff Kirwan acquired 10,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average price of $4.90 per share, with a total value of $49,000.00. Following the purchase, the director now directly owns 43,455 shares of the company’s stock, valued at $212,929.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sue Gove acquired 50,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average price of $4.61 per share, with a total value of $230,500.00. Following the purchase, the chief executive officer now directly owns 105,587 shares of the company’s stock, valued at $486,756.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff Kirwan acquired 10,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average cost of $4.90 per share, for a total transaction of $49,000.00. Following the purchase, the director now directly owns 43,455 shares in the company, valued at $212,929.50. The disclosure for this purchase can be found here. Insiders have bought 62,000 shares of company stock valued at $288,720 in the last 90 days. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV bought a new position in Bed Bath & Beyond in the second quarter valued at approximately $45,000. Exchange Traded Concepts LLC bought a new position in Bed Bath & Beyond in the first quarter valued at approximately $64,000. BDO Wealth Advisors LLC lifted its stake in Bed Bath & Beyond by 1,836.7% in the first quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer’s stock valued at $65,000 after buying an additional 2,755 shares in the last quarter. OLD National Bancorp IN bought a new position in Bed Bath & Beyond in the second quarter valued at approximately $65,000. Finally, XR Securities LLC bought a new position in Bed Bath & Beyond in the second quarter valued at approximately $69,000.

Bed Bath & Beyond Trading Up 21.8%

Shares of Bed Bath & Beyond stock opened at $12.95 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -1.32 and a beta of 1.89. The company has a quick ratio of 0.15, a current ratio of 1.02 and a debt-to-equity ratio of 6.77. The company has a 50-day simple moving average of $6.42 and a 200-day simple moving average of $12.75. Bed Bath & Beyond has a 12-month low of $4.38 and a 12-month high of $30.14.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its earnings results on Wednesday, June 29th. The retailer reported ($2.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.33) by ($1.50). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. Bed Bath & Beyond had a negative return on equity of 90.91% and a negative net margin of 11.74%. The company’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. Research analysts expect that Bed Bath & Beyond will post -5.93 earnings per share for the current fiscal year.

Bed Bath & Beyond Company Profiles

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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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)



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