Bed Bath & Beyond (NASDAQ:BBBY) had its target price decreased by Loop Capital from $14.00 to $10.00 in a research note issued to investors on Friday, The Fly reports. Loop Capital's target price indicates a potential downside of 28.06% from the stock's previous close.
Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Bed Bath & Beyond from a "hold" rating to a "strong sell" rating and set a $13.00 target price on the stock. in a report on Tuesday. Morgan Stanley lowered shares of Bed Bath & Beyond from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $18.00 to $12.00 in a report on Thursday, October 14th. KeyCorp cut their price target on shares of Bed Bath & Beyond from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday. UBS Group cut their price target on shares of Bed Bath & Beyond from $20.00 to $13.00 and set a "sell" rating on the stock in a report on Tuesday. Finally, TheStreet cut shares of Bed Bath & Beyond from a "c" rating to a "d+" rating in a research report on Thursday, September 30th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.83.
NASDAQ BBBY traded down $0.53 on Friday, hitting $13.90. The stock had a trading volume of 427,498 shares, compared to its average volume of 16,524,842. Bed Bath & Beyond has a 52-week low of $13.32 and a 52-week high of $53.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.70 and a current ratio of 1.43. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.03, a price-to-earnings-growth ratio of 0.33 and a beta of 1.68. The firm has a 50-day moving average of $18.44 and a 200-day moving average of $22.51.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Thursday, January 6th. The retailer reported ($0.25) EPS for the quarter, missing the Zacks' consensus estimate of $0.02 by ($0.27). The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.95 billion. Bed Bath & Beyond had a positive return on equity of 5.61% and a negative net margin of 2.08%. Bed Bath & Beyond's quarterly revenue was down 28.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. As a group, research analysts anticipate that Bed Bath & Beyond will post 0.83 earnings per share for the current fiscal year.
In other news, CFO Gustavo Arnal purchased 5,000 shares of the stock in a transaction on Thursday, November 4th. The shares were acquired at an average price of $19.72 per share, with a total value of $98,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John E. Fleming purchased 10,000 shares of the stock in a transaction on Thursday, November 4th. The shares were purchased at an average cost of $19.28 per share, for a total transaction of $192,800.00. The disclosure for this purchase can be found here. Insiders bought 17,500 shares of company stock valued at $344,900 over the last quarter. Company insiders own 1.00% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in Bed Bath & Beyond by 973.2% during the second quarter. Morgan Stanley now owns 7,023,868 shares of the retailer's stock valued at $233,824,000 after acquiring an additional 6,369,395 shares during the last quarter. Contrarius Investment Management Ltd increased its position in Bed Bath & Beyond by 77.6% during the second quarter. Contrarius Investment Management Ltd now owns 4,392,809 shares of the retailer's stock valued at $146,237,000 after acquiring an additional 1,919,822 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Bed Bath & Beyond by 18.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,788,025 shares of the retailer's stock valued at $65,467,000 after acquiring an additional 598,310 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Bed Bath & Beyond in the third quarter worth about $64,050,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Bed Bath & Beyond by 11.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,681,300 shares of the retailer's stock worth $46,319,000 after purchasing an additional 269,006 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.
About Bed Bath & Beyond
Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables.
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