Bed Bath & Beyond (NASDAQ:BBBY) Given New $6.00 Price Target at KeyCorp


Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) had its target price dropped by analysts at KeyCorp from $10.00 to $6.00 in a report released on Monday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the retailer’s stock. KeyCorp’s price objective would indicate a potential downside of 15.73% from the stock’s previous close.

BBBY has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating for the company in a research note on Thursday, April 14th. StockNews.com initiated coverage on Bed Bath & Beyond in a research note on Thursday, March 31st. They set a “sell” rating for the company. Telsey Advisory Group downgraded Bed Bath & Beyond from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $18.00 to $15.00 in a research note on Thursday, April 14th. B. Riley reduced their target price on Bed Bath & Beyond from $26.00 to $17.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. Finally, Wells Fargo & Company dropped their price target on Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, June 8th. Eight equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $12.08.

BBBY stock opened at $7.12 on Monday. The company has a quick ratio of 0.31, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The business has a 50 day moving average price of $12.84 and a two hundred day moving average price of $15.75. The company has a market cap of $568.79 million, a price-to-earnings ratio of -1.23 and a beta of 1.81. Bed Bath & Beyond has a twelve month low of $7.00 and a twelve month high of $39.30.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last posted its quarterly earnings results on Wednesday, April 13th. The retailer reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.94). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. Bed Bath & Beyond had a negative net margin of 7.11% and a negative return on equity of 14.09%. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities research analysts anticipate that Bed Bath & Beyond will post -2.47 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of BBBY. Brown Advisory Inc. grew its position in Bed Bath & Beyond by 14.0% during the 4th quarter. Brown Advisory Inc. now owns 2,830,673 shares of the retailer’s stock worth $41,270,000 after acquiring an additional 346,912 shares during the last quarter. Capital Fund Management SA bought a new stake in Bed Bath & Beyond during the 4th quarter worth $1,437,000. Bank of Montreal Can grew its position in Bed Bath & Beyond by 22.4% during the 4th quarter. Bank of Montreal can now owns 65,195 shares of the retailer’s stock worth $977,000 after acquiring an additional 11,943 shares during the last quarter. Campbell Capital Management Inc. bought a new stake in Bed Bath & Beyond during the 4th quarter worth $247,000. Finally, Analyst IMS Investment Management Services Ltd. its position in Bed Bath & Beyond grew by 11.6% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 586,382 shares of the retailer’s stock worth $8,755,000 after acquiring an additional 60,950 shares during the last quarter.

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.

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