Best Buy's (BBY) Equal Weight Rating Reiterated at Barclays

Key Points

• Barclays has reaffirmed its "equal weight" rating for Best Buy with a target price of $74.00, indicating a potential downside of 0.10% from the current stock price.
• Overall, Best Buy has received a consensus rating of "Hold" from analysts, with ten Buy ratings, nine Hold ratings, and one Sell rating.
• In recent trading, Best Buy's shares rose by 1.9%, reaching $74.07, while the company reported better-than-expected earnings with a revenue increase of 1.6% year-over-year.

Best Buy (NYSE:BBY - Get Free Report)'s stock had its "equal weight" rating reiterated by research analysts at Barclays in a report released on Friday,Benzinga reports. They presently have a $74.00 price objective on the technology retailer's stock. Barclays's price target indicates a potential upside of 0.56% from the company's current price.

Several other equities analysts have also recently commented on BBY. Wells Fargo & Company upped their target price on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler restated a "neutral" rating and issued a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a research note on Monday, July 14th. JPMorgan Chase & Co. dropped their price objective on shares of Best Buy from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. UBS Group dropped their price objective on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, Citigroup restated a "buy" rating on shares of Best Buy in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Best Buy presently has an average rating of "Hold" and a consensus price target of $84.44.

Best Buy Stock Performance

Shares of NYSE BBY traded up $0.93 during trading hours on Friday, hitting $73.59. 4,436,142 shares of the stock were exchanged, compared to its average volume of 3,606,198. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The company's 50 day moving average is $69.82 and its 200 day moving average is $71.23. The firm has a market capitalization of $15.55 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.95 and a beta of 1.19. Best Buy has a one year low of $54.99 and a one year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts expect that Best Buy will post 6.18 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares of the company's stock, valued at $14,305,495. This trade represents a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BBY. Norges Bank bought a new position in Best Buy in the second quarter valued at approximately $171,851,000. Pacer Advisors Inc. raised its holdings in shares of Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock valued at $75,353,000 after purchasing an additional 998,021 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Best Buy by 39.5% in the second quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer's stock valued at $235,064,000 after purchasing an additional 991,141 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Best Buy by 15.8% in the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer's stock valued at $305,351,000 after purchasing an additional 621,863 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Best Buy by 855.5% in the second quarter. Worldquant Millennium Advisors LLC now owns 686,644 shares of the technology retailer's stock valued at $46,094,000 after purchasing an additional 614,779 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.