Weiss Ratings Reiterates Hold (C) Rating for Best Buy (NYSE:BBY)

Key Points

• Weiss Ratings has **reiterated a "Hold (C)" rating** for Best Buy (NYSE:BBY), reflecting a cautious outlook on the stock.
• Various analysts have given mixed ratings on Best Buy, with nine holding **buy ratings**, ten **hold**, and one **sell**, suggesting a consensus price target of **$81.69**.
• Best Buy's stock recently traded at **$83.07**, up from a **52-week low of $54.99** and down from a **high of $95.49**, indicating fluctuations in investor confidence.

Best Buy (NYSE:BBY - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

BBY has been the topic of several other research reports. Truist Financial upped their price objective on Best Buy from $69.00 to $72.00 and gave the stock a "hold" rating in a research report on Friday, August 29th. Piper Sandler reaffirmed a "neutral" rating and set a $75.00 target price (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Wall Street Zen downgraded Best Buy from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Guggenheim reaffirmed a "buy" rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Finally, Jefferies Financial Group upped their target price on Best Buy from $88.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.69.

Best Buy Stock Performance

NYSE BBY traded up $0.64 during trading hours on Friday, reaching $83.07. The stock had a trading volume of 3,804,737 shares, compared to its average volume of 3,600,413. The stock has a fifty day moving average of $75.66 and a 200 day moving average of $70.74. The stock has a market cap of $17.45 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.14 and a beta of 1.23. Best Buy has a 52-week low of $54.99 and a 52-week high of $95.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts predict that Best Buy will post 6.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 3,715 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares of the company's stock, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,027,669 shares of company stock valued at $82,189,066. Company insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd grew its stake in shares of Best Buy by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer's stock valued at $3,284,000 after purchasing an additional 3,040 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Best Buy by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock valued at $14,560,000 after purchasing an additional 13,378 shares during the last quarter. Blackhawk Capital Partners LLC. purchased a new position in shares of Best Buy in the 1st quarter valued at approximately $1,574,000. Alberta Investment Management Corp grew its stake in shares of Best Buy by 25.6% in the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock valued at $2,422,000 after purchasing an additional 6,700 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its stake in shares of Best Buy by 191.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer's stock valued at $789,000 after purchasing an additional 7,043 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

About Best Buy

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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