Bed Bath & Beyond (NYSE:BBBY) Shares Gap Down - What's Next?

Key Points

• Bed Bath & Beyond's stock gapped down ahead of trading, opening at $11.19 after closing at $11.75, with recent trading at $11.65.
• Analyst ratings are mixed, with two Buy, four Hold, and three Sell ratings, resulting in a consensus target price of $8.86.
• The company's recent quarterly earnings showed a loss of ($0.22) per share, beating expectations, but reflected a 29.1% revenue decline compared to the same quarter last year.

Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $11.75, but opened at $11.19. Bed Bath & Beyond shares last traded at $11.65, with a volume of 766,240 shares traded.

Analysts Set New Price Targets

BBBY has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Bed Bath & Beyond in a report on Tuesday, July 29th. Wedbush boosted their price objective on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of Bed Bath & Beyond in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $8.86.

Bed Bath & Beyond Stock Performance

The company has a market cap of $689.03 million, a P/E ratio of -2.95 and a beta of 2.76. The firm's fifty day moving average is $9.38 and its two-hundred day moving average is $7.08.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.15. The firm had revenue of $282.25 million during the quarter, compared to analyst estimates 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 business's quarterly revenue was down 29.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.76) earnings per share. On average, equities research analysts expect that Bed Bath & Beyond, Inc. will post -3.75 EPS for the current year.

Institutional Trading of Bed Bath & Beyond

Institutional investors have recently added to or reduced their stakes in the company. Marex Group plc bought a new position in Bed Bath & Beyond in the second quarter worth approximately $79,000. Headlands Technologies LLC purchased a new position in Bed Bath & Beyond in the second quarter worth $33,000. Fund 1 Investments LLC purchased a new position in Bed Bath & Beyond in the second quarter worth $1,184,000. Balyasny Asset Management L.P. purchased a new stake in shares of Bed Bath & Beyond during the second quarter valued at $3,414,000. Finally, Bank of America Corp DE grew its holdings in shares of Bed Bath & Beyond by 587.3% during the second quarter. Bank of America Corp DE now owns 236,529 shares of the company's stock valued at $1,627,000 after buying an additional 202,113 shares during the last quarter. Institutional investors 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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