Bed Bath & Beyond (NASDAQ:BBBY) Downgraded to Hold at Odeon Capital Group


Odeon Capital Group lowered shares of Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) from a buy rating to a hold rating in a research note published on Monday morning, Marketbeat reports.

Several other analysts also recently commented on the stock. Morgan Stanley decreased their target 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. B. Riley decreased their target price on shares of Bed Bath & Beyond from $7.00 to $5.00 in a research report on Thursday, June 30th. Robert W. Baird decreased their target price on shares of Bed Bath & Beyond from $14.00 to $7.00 and set a neutral rating for the company in a research report on Monday, June 27th. KeyCorp decreased their target 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. Finally, UBS Group decreased their price objective on shares of Bed Bath & Beyond from $12.00 to $5.00 and set a sell rating for the company in a report on Wednesday, June 22nd. Nine investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Bed Bath & Beyond has an average rating of Reduce and a consensus target price of $6.67.

Bed Bath & Beyond Trading Up 39.8%

Bed Bath & Beyond stock opened at $11.41 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.15 and a debt-to-equity ratio of 6.77. The firm’s 50 day moving average price is $6.22 and its two-hundred day moving average price is $12.83. Bed Bath & Beyond has a twelve month low of $4.38 and a twelve month high of $30.14.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last posted its earnings results on Wednesday, June 29th. The retailer reported ($2.83) EPS for the quarter, missing the consensus estimate of ($1.33) by ($1.50). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate 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 business’s revenue was down 25.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, analysts forecast that Bed Bath & Beyond will post -5.93 EPS for the current year.

Insider Buying and Selling at Bed Bath & Beyond

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

Hedge Funds Weigh In On Bed Bath & Beyond

A number of hedge funds have recently made changes to their positions in BBBY. KBC Group NV acquired a new position in shares of Bed Bath & Beyond in the 2nd quarter valued at $45,000. Exchange Traded Concepts LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter worth about $64,000. BDO Wealth Advisors LLC increased its position in shares of Bed Bath & Beyond by 1,836.7% during the 1st quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer’s stock worth $65,000 after purchasing an additional 2,755 shares in the last quarter. OLD National Bancorp IN acquired a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth about $65,000. Finally, XR Securities LLC acquired a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth about $69,000.

About Bed Bath & Beyond

(Get Rating)

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.

Further Reading

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



Receive News & Ratings for Bed Bath & Beyond Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Bed Bath & Beyond and related companies with MarketBeat.com’s FREE daily email newsletter.

.

Leave a Comment