Bed Bath & Beyond (NYSE:BBBY) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Bed Bath & Beyond has been given a "Sell (D-)" rating by Weiss Ratings, indicating concerns about its performance.
• Despite the negative outlook, other firms like Wedbush have increased their target price to $13.00 and given the stock an "outperform" rating.
• The company's recent earnings report showed a 29.1% year-over-year revenue decline, although it beat EPS estimates with a loss of $0.22 compared to the expected loss of $0.37.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on BBBY. Needham & Company LLC reissued a "hold" rating on shares of Bed Bath & Beyond in a report on Tuesday, July 29th. Wedbush increased their target price on Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Bed Bath & Beyond from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $8.86.

Bed Bath & Beyond Price Performance

Shares of NYSE BBBY traded up $0.08 during mid-day trading on Wednesday, hitting $11.11. The company had a trading volume of 1,612,429 shares, compared to its average volume of 3,057,782. The company has a market capitalization of $637.83 million, a PE ratio of -2.73 and a beta of 2.76. Bed Bath & Beyond has a 1-year low of $3.54 and a 1-year high of $12.65. The business's 50-day simple moving average is $9.48 and its 200 day simple moving average is $7.24.

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

Hedge Funds Weigh In On Bed Bath & Beyond

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PFG Investments LLC purchased a new position in shares of Bed Bath & Beyond during the first quarter worth about $464,000. Able Wealth Management LLC acquired a new stake in Bed Bath & Beyond in the first quarter valued at about $3,913,000. Jump Financial LLC acquired a new stake in Bed Bath & Beyond in the first quarter valued at about $2,118,000. Oppenheimer & Co. Inc. acquired a new stake in Bed Bath & Beyond in the first quarter valued at about $318,000. Finally, Nuveen LLC acquired a new stake in Bed Bath & Beyond in the first quarter valued at about $2,256,000. Hedge funds and other institutional investors own 76.30% of the company's stock.

Bed Bath & Beyond Company Profile

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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