Bed Bath & Beyond (NASDAQ:BBBY) Lowered to Sell at Odeon Capital Group


Odeon Capital Group cut shares of Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) from a hold rating to a sell rating in a research report released on Tuesday morning, MarketBeat reports. Odeon Capital Group currently has $7.50 target price on the retailer’s stock.

Other equities analysts also recently issued research reports about the stock. B. Riley downgraded shares of Bed Bath & Beyond from a neutral rating to a sell rating and set a $5.00 target price for the company. in a research note on Tuesday. 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 report on Wednesday, June 8th. Telsey Advisory Group lowered their price target on shares of Bed Bath & Beyond from $6.00 to $3.00 and set an underperform rating for the company in a report on Thursday, June 30th. Robert W. Baird downgraded shares of Bed Bath & Beyond from a neutral rating to an underperform rating and set a $4.00 price objective on the stock. in a research report on Tuesday, August 9th. Finally, Wedbush cut their price objective on shares of Bed Bath & Beyond to $5.00 in a research report on Monday, July 4th. Twelve investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, Bed Bath & Beyond currently has a consensus rating of Reduce and a consensus price target of $6.50.

Bed Bath & Beyond Stock Up 29.1 %

BBBY opened at $20.65 on Tuesday. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.02 and a quick ratio of 0.15. The company’s 50-day moving average is $6.83 and its 200-day moving average is $12.80. Bed Bath & Beyond has a fifty-two week low of $4.38 and a fifty-two week high of $30.14.

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

Insider Transactions at Bed Bath & Beyond

In other Bed Bath & Beyond news, CEO Sue Gove bought 50,000 shares of Bed Bath & Beyond stock in a transaction dated Friday, July 1st. The stock was acquired at an average cost 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 in the company, valued at approximately $486,756.07. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Bed Bath & Beyond news, CEO Sue Gove bought 50,000 shares of Bed Bath & Beyond stock in a transaction dated Friday, July 1st. The stock was acquired at an average cost 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 in the company, valued at approximately $486,756.07. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeff Kirwan bought 10,000 shares of Bed Bath & Beyond stock in a transaction dated Friday, July 1st. The shares were acquired at an average cost of $4.90 per share, with a total value of $49,000.00. Following the completion of the purchase, the director now owns 43,455 shares in the company, valued at $212,929.50. The disclosure for this purchase can be found here. Insiders acquired a total of 62,000 shares of company stock valued at $288,720 in the last three months. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Bed Bath & Beyond

Several large investors have recently added to or reduced their stakes in BBBY. EN Shaw & Co. Inc. purchased a new stake in Bed Bath & Beyond in the 4th quarter valued at $8,052,000. Bank of America Corp DE grew its holdings in shares of Bed Bath & Beyond by 217.2% during the 1st quarter. Bank of America Corp DE now owns 783,717 shares of the retailer’s stock worth $17,658,000 after purchasing an additional 536,654 shares during the period. Royce & Associates LP purchased a new position in shares of Bed Bath & Beyond during the 1st quarter worth $6,595,000. Cambria Investment Management LP grew its holdings in shares of Bed Bath & Beyond by 128.1% during the 2nd quarter. Cambria Investment Management LP now owns 432,622 shares of the retailer’s stock worth $2,150,000 after purchasing an additional 242,964 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of Bed Bath & Beyond during the 4th quarter worth $3,155,000.

About Bed Bath & Beyond

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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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