Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Bed Bath & Beyond has received an average recommendation of "Reduce" from analysts, with three sell ratings, four hold ratings, and two buy ratings among the nine firms covering the stock.
• The company's shares opened at $7.91 on Friday, with a market capitalization of $544.60 million and a negative price-to-earnings ratio of -1.94.
• In their most recent quarterly earnings, Bed Bath & Beyond reported a loss of ($0.22) EPS, beating expectations but demonstrating a 29.1% decline in revenue compared to the previous year.

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report) have earned an average recommendation of "Reduce" from the nine research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.8571.

Several analysts recently commented on BBBY shares. Wedbush raised their price objective on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th.

Bed Bath & Beyond Stock Down 0.5%

Shares of NYSE BBBY opened at $7.91 on Friday. Bed Bath & Beyond has a 52 week low of $3.54 and a 52 week high of $12.65. The firm has a 50-day moving average price of $9.56 and a 200 day moving average price of $7.44. The stock has a market capitalization of $544.60 million, a price-to-earnings ratio of -1.94 and a beta of 2.76.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.15. Bed Bath & Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The firm had revenue of $282.25 million during the quarter, compared to analysts' expectations of $250.37 million. During the same quarter last year, the business earned ($0.76) earnings per share. The business's revenue for the quarter was down 29.1% compared to the same quarter last year. Equities research analysts expect that Bed Bath & Beyond will post -3.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Bed Bath & Beyond

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its position in Bed Bath & Beyond by 85.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company's stock worth $25,000 after acquiring an additional 1,669 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Bed Bath & Beyond by 104.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company's stock worth $32,000 after acquiring an additional 2,823 shares during the last quarter. Headlands Technologies LLC acquired a new position in Bed Bath & Beyond during the second quarter worth about $33,000. Ameritas Investment Partners Inc. raised its position in Bed Bath & Beyond by 25.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company's stock worth $39,000 after acquiring an additional 1,133 shares during the last quarter. Finally, Platform Technology Partners acquired a new position in shares of Bed Bath & Beyond in the first quarter valued at approximately $59,000. Institutional investors and hedge funds own 76.30% of the company's stock.

About Bed Bath & Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.

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