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

Key Points

• Weiss Ratings has given Bed Bath & Beyond a "sell (D-)" rating, reflecting ongoing concerns about the company's performance.
• The stock has an average target price of $8.86, with two analysts recommending a buy, while four maintain a hold rating and three have a sell rating.
• Bed Bath & Beyond reported a quarterly revenue of $282.25 million, surpassing expectations, but with a significant year-over-year decline of 29.1% in revenue.

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

A number of other brokerages also recently commented on BBBY. Needham & Company LLC reiterated a "hold" rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th. Wedbush reiterated an "outperform" rating and set a $13.00 price objective on shares of Bed Bath & Beyond in a research report on Tuesday. Finally, Wall Street Zen upgraded Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Bed Bath & Beyond has an average rating of "Reduce" and an average target price of $8.86.

Bed Bath & Beyond Price Performance

Bed Bath & Beyond stock traded up $0.13 during trading on Friday, reaching $8.54. 2,009,374 shares of the company were exchanged, compared to its average volume of 3,007,303. Bed Bath & Beyond has a 52-week low of $3.54 and a 52-week high of $12.65. The company has a market capitalization of $588.25 million, a P/E ratio of -2.10 and a beta of 2.76. The stock's 50 day simple moving average is $9.52 and its two-hundred day simple moving average is $7.54.

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, topping analysts' consensus estimates of ($0.37) by $0.15. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.The firm had revenue of $282.25 million for the quarter, compared to the consensus estimate of $250.37 million. During the same quarter last year, the business posted ($0.76) earnings per share. The firm's revenue was down 29.1% compared to the same quarter last year. As a group, equities analysts forecast that Bed Bath & Beyond will post -3.75 earnings per share for the current year.

Institutional Investors Weigh In On Bed Bath & Beyond

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBBY. Able Wealth Management LLC acquired a new stake in shares of Bed Bath & Beyond in the first quarter valued at $3,913,000. Balyasny Asset Management L.P. acquired a new position in Bed Bath & Beyond during the 2nd quarter worth $3,414,000. Nuveen LLC acquired a new position in Bed Bath & Beyond during the 1st quarter worth $2,256,000. Jump Financial LLC acquired a new position in Bed Bath & Beyond during the 1st quarter worth $2,118,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Bed Bath & Beyond by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company's stock valued at $8,543,000 after purchasing an additional 211,446 shares during the last quarter. 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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