Best Buy (NYSE:BBY) Given Outperform Rating at Telsey Advisory Group

Key Points

• Best Buy's stock has been given an "outperform" rating by Telsey Advisory Group, with a target price of $90.00, indicating a potential upside of 23.79% from its current price.
• Recent earnings results showed an EPS of $1.28 for the quarter, exceeding expectations, while revenue increased by 1.6% year-over-year to $9.44 billion.
• Ten analysts have rated Best Buy with a Buy rating, whereas the consensus rating is "Hold" with an average price target of $83.67.

Best Buy (NYSE:BBY - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Telsey Advisory Group in a report issued on Friday,Benzinga reports. They presently have a $90.00 target price on the technology retailer's stock. Telsey Advisory Group's price objective would suggest a potential upside of 23.79% from the company's current price.

A number of other analysts have also recently weighed in on the company. Truist Financial raised their price target on Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Piper Sandler restated a "neutral" rating and issued a $75.00 price target (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Bank of America cut their price target on Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research note on Friday. Wedbush cut their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. cut their price target on Best Buy from $95.00 to $88.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. Ten investment 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. Based on data from MarketBeat.com, Best Buy has an average rating of "Hold" and a consensus price target of $83.67.

Best Buy Trading Down 3.6%

BBY opened at $72.70 on Friday. Best Buy has a 52 week low of $54.99 and a 52 week high of $103.71. The business has a fifty day simple moving average of $69.70 and a 200-day simple moving average of $71.56. The firm has a market cap of $15.37 billion, a P/E ratio of 17.78, a P/E/G ratio of 2.00 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.02 and a debt-to-equity ratio of 0.42.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.Best Buy's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts expect that Best Buy will post 6.18 earnings per share for the current year.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at $14,305,495. The trade was a 78.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Best Buy

A number of institutional investors have recently added to or reduced their stakes in BBY. Pinnacle Bancorp Inc. boosted its holdings in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Best Buy during the 2nd quarter worth approximately $26,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy during the 4th quarter worth approximately $31,000. Ancora Advisors LLC boosted its stake in shares of Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after acquiring an additional 374 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Best Buy by 67.1% during the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other 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.

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