Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) has earned an average recommendation of "Reduce" from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Thirteen investment analysts have rated the stock with a sell recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $3.44.
Several equities analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Bed Bath & Beyond from $3.50 to $1.50 and set a "sell" rating on the stock in a research report on Friday, January 6th. Odeon Capital Group lowered shares of Bed Bath & Beyond from a "hold" rating to a "sell" rating in a research note on Tuesday, February 7th. Wedbush reissued an "underperform" rating on shares of Bed Bath & Beyond in a research note on Tuesday, February 7th. Telsey Advisory Group dropped their target price on shares of Bed Bath & Beyond from $3.00 to $2.00 and set an "underperform" rating on the stock in a research note on Thursday, January 5th. Finally, Wells Fargo & Company dropped their target price on shares of Bed Bath & Beyond from $3.00 to $2.00 and set an "underweight" rating on the stock in a research note on Thursday, January 5th.
Get Bed Bath & Beyond alerts:Bed Bath & Beyond Stock Up 3.8 %
Shares of NASDAQ:BBBY opened at $0.82 on Monday. The stock has a market cap of $95.71 million, a PE ratio of -0.05 and a beta of 1.62. The company's fifty day moving average is $2.12 and its 200 day moving average is $3.62. Bed Bath & Beyond has a 52 week low of $0.77 and a 52 week high of $30.00.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its quarterly earnings data on Tuesday, January 10th. The retailer reported ($3.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.36) by ($1.29). The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter last year, the firm earned ($0.25) EPS. The company's revenue for the quarter was down 33.0% on a year-over-year basis. Sell-side analysts anticipate that Bed Bath & Beyond will post -11.71 EPS for the current year.
Hedge Funds Weigh In On Bed Bath & Beyond
Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC lifted its position in Bed Bath & Beyond by 211.0% during the fourth quarter. Virtu Financial LLC now owns 109,528 shares of the retailer's stock valued at $275,000 after purchasing an additional 74,306 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Bed Bath & Beyond by 1,478.1% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 333,931 shares of the retailer's stock worth $838,000 after acquiring an additional 312,771 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Bed Bath & Beyond by 703.5% in the 4th quarter. Squarepoint Ops LLC now owns 93,144 shares of the retailer's stock worth $234,000 after acquiring an additional 81,551 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Bed Bath & Beyond by 3.4% in the 4th quarter. Legal & General Group Plc now owns 283,390 shares of the retailer's stock worth $711,000 after acquiring an additional 9,323 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Bed Bath & Beyond by 44.0% in the 4th quarter. Morgan Stanley now owns 1,481,635 shares of the retailer's stock worth $3,719,000 after acquiring an additional 452,377 shares during the last quarter. Institutional investors own 64.16% of the company's stock.
Bed Bath & Beyond Company Profile
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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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