Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) had its price objective trimmed by The Goldman Sachs Group from $14.00 to $7.00 in a report released on Thursday morning, MarketBeat Ratings reports. The firm currently has a sell rating on the retailer’s stock.
BBBY has been the topic of several other research reports. Zacks Investment Research upgraded Bed Bath & Beyond from a strong sell rating to a hold rating and set a $24.00 price objective on the stock in a research report on Wednesday, March 9th. Loop Capital decreased their target price on Bed Bath & Beyond from $14.00 to $10.00 and set a sell rating on the stock in a research report on Friday, January 7th. StockNews.com initiated coverage on Bed Bath & Beyond in a research report on Thursday, March 31st. They set a sell rating on the stock. Robert W. Baird decreased their target price on Bed Bath & Beyond from $22.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, January 7th. Finally, Wedbush decreased their target price on Bed Bath & Beyond from $18.00 to $14.00 in a research report on Monday, January 3rd. Seven analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $15.50.
Bed Bath & Beyond stock opened at $17.33 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.47 and a debt-to-equity ratio of 6.77. Bed Bath & Beyond has a 12 month low of $12.39 and a 12 month high of $44.51. The stock’s 50 day simple moving average is $19.30 and its two-hundred day simple moving average is $17.72. The firm has a market cap of $1.67 billion, a PE ratio of -3.00 and a beta of 1.59.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its quarterly earnings data on Wednesday, April 13th. The retailer reported ($0.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.95). Bed Bath & Beyond had a negative return on equity of 14.09% and a negative net margin of 7.11%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. On average, equities research analysts forecast that Bed Bath & Beyond will post 0.63 EPS for the current year.
In related news, COO John R. Hartmann bought 6,667 shares of the business’s stock in a transaction on Tuesday, January 18th. The stock was acquired at an average cost of $15.00 per share, with a total value of $100,005.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC increased its position in shares of Bed Bath & Beyond by 4,971.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,420 shares of the retailer’s stock worth $25,000 after purchasing an additional 1,392 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Bed Bath & Beyond by 41.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,662 shares of the retailer’s stock worth $28,000 after purchasing an additional 484 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Bed Bath & Beyond during the 3rd quarter worth about $51,000. Wolff Wiese Magana LLC acquired a new stake in shares of Bed Bath & Beyond during the 3rd quarter worth about $52,000. Finally, US Asset Management LLC acquired a new stake in shares of Bed Bath & Beyond during the 3rd quarter worth about $61,000.
About Bed Bath & Beyond (Get Rating)
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company 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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