Bed Bath & Beyond - BBBY Stock Forecast, Price & News

Bed Bath & Beyond Inc., together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products. As of February 26, 2022, the company had 953 stores, which included 771 Bed Bath & Beyond stores in 50 states, the District of Columbia, Puerto Rico, and Canada; 130 buybuy BABY stores in 37 states and Canada; and 52 stores in 6 states under the names Harmon, Harmon Face Values or Face Values. It also offers products through various Websites and applications comprising bedbathandbeyond.com, bedbathandbeyond.ca, harmondiscount.com, facevalues.com, buybuybaby.com, buybuybaby.ca, and decorist.com. In addition, the company operates Decorist, an online interior design platform that provides personalized home design services. Bed Bath & Beyond Inc. was incorporated in 1971 and is headquartered in Union, New Jersey.

Analysts Set New Price Targets

Several analysts have recently weighed in on BBBY shares. Odeon Capital Group downgraded Bed Bath & Beyond from a "buy" rating to a "hold" rating in a research report on Monday. Wells Fargo & Company cut their price target on Bed Bath & Beyond from $10.00 to $5.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 8th. Wedbush cut their price target on Bed Bath & Beyond to $5.00 in a research note on Monday, July 4th. KeyCorp cut their price target on Bed Bath & Beyond from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Tuesday, June 28th. Finally, Telsey Advisory Group cut their price target on Bed Bath & Beyond from $6.00 to $3.00 and set an "underperform" rating on the stock in a research note on Thursday, June 30th. Ten equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $6.42.

Bed Bath & Beyond Price Performance

Shares of NASDAQ:BBBY opened at $9.79 on Wednesday. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.15 and a current ratio of 1.02. The company has a market cap of $782.79 million, a PE ratio of -1.00 and a beta of 1.90. The business has a 50-day simple moving average of $6.24 and a two-hundred day simple moving average of $12.81. Bed Bath & Beyond has a fifty-two week low of $4.38 and a fifty-two week high of $30.14.

Bed Bath & Beyond (NASDAQ:BBBY - Get Rating) last issued its quarterly earnings results on Wednesday, June 29th. The retailer reported ($2.83) earnings per share for the quarter, missing the consensus estimate of ($1.33) by ($1.50). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. Bed Bath & Beyond had a negative return on equity of 90.91% and a negative net margin of 11.74%. Bed Bath & Beyond's revenue was down 25.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. As a group, equities analysts expect that Bed Bath & Beyond will post -5.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bed Bath & Beyond news, Director Jeff Kirwan purchased 10,000 shares of the stock in a transaction on Friday, July 1st. The stock was acquired at an average price of $4.90 per share, with a total value of $49,000.00. Following the completion of the acquisition, the director now owns 43,455 shares in the company, valued at $212,929.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Sue Gove bought 50,000 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The stock was purchased at an average price of $4.61 per share, with a total value of $230,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 105,587 shares of the company's stock, valued at approximately $486,756.07. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff Kirwan bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average cost of $4.90 per share, with a total value of $49,000.00. Following the acquisition, the director now directly owns 43,455 shares of the company's stock, valued at $212,929.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 62,000 shares of company stock valued at $288,720. 1.70% of the stock is currently owned by corporate insiders.