Brokerages Set Bed Bath & Beyond, Inc. (NYSE:BBBY) PT at $8.86

Key Points

• Beyond, Inc. has received an average recommendation of "Hold" from analysts, with two sell ratings, four hold ratings, and two buy ratings.
• The stock's average twelve-month price objective is $8.86, while it currently trades around $9.54 with a market capitalization of $547.40 million.
• Beyond recently reported EPS of ($0.22), exceeding analysts' expectations, but saw a 29.1% decline in revenue compared to the previous year.

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report) have received an average recommendation of "Hold" from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.8571.

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Bed Bath & Beyond in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Bed Bath & Beyond from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Wedbush upped their target price on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd.

Bed Bath & Beyond Stock Up 4.1%

NYSE BBBY traded up $0.33 on Friday, hitting $8.47. 982,782 shares of the stock were exchanged, compared to its average volume of 3,119,766. The company has a 50-day moving average price of $8.64 and a 200-day moving average price of $6.59. Bed Bath & Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $12.24. The company has a market cap of $486.23 million, a PE ratio of -2.08 and a beta of 2.76.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last issued its earnings results 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. Bed Bath & Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The business had revenue of $282.25 million during the quarter, compared to analysts' expectations of $250.37 million. During the same quarter in the prior year, the business posted ($0.76) EPS. The company's revenue for the quarter was down 29.1% on a year-over-year basis. As a group, equities research analysts predict that Bed Bath & Beyond will post -3.75 EPS for the current fiscal year.

Institutional Trading of Bed Bath & Beyond

A number of large investors have recently bought and sold shares of the business. Marex Group plc acquired a new stake in Bed Bath & Beyond during the 2nd quarter worth $79,000. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond during the 2nd quarter worth $33,000. Fund 1 Investments LLC acquired a new stake in Bed Bath & Beyond during the 2nd quarter worth $1,184,000. Balyasny Asset Management L.P. acquired a new stake in Bed Bath & Beyond during the 2nd quarter worth $3,414,000. Finally, Bank of America Corp DE boosted its stake in Bed Bath & Beyond by 587.3% during the 2nd quarter. Bank of America Corp DE now owns 236,529 shares of the company's stock worth $1,627,000 after purchasing an additional 202,113 shares during the period. Institutional investors and hedge funds 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.