Bed Bath & Beyond (NASDAQ:BBBY) was upgraded by Thomson Reuters/Verus from a “hold” rating to a “buy” rating in a research note issued on Monday, American Banking News reports.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded up 1.26% on Monday, hitting $74.56. The stock had a trading volume of 1,185,533 shares. Bed Bath & Beyond has a 1-year low of $54.33 and a 1-year high of $78.25. The stock has a 50-day moving average of $74.51 and a 200-day moving average of $69.39. The company has a market cap of $15.945 billion and a P/E ratio of 15.95.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, June 26th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by $0.75. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the company posted $1.48 earnings per share. Bed Bath & Beyond’s revenue was up 17.8% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post $5.02 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BBBY. Analysts at Credit Suisse raised their price target on shares of Bed Bath & Beyond (NASDAQ:BBBY) from $75.00 to $80.00 in a research note to investors on Monday, August 26th. They now have an “outperform” rating on the stock. Separately, analysts at Argus raised their price target on shares of Bed Bath & Beyond (NASDAQ:BBBY) from $80.00 to $88.00 in a research note to investors on Tuesday, August 6th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer downgraded shares of Bed Bath & Beyond (NASDAQ:BBBY) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, July 26th. They now have a GBX 78 ($1.24) price target on the stock. They noted that the move was a valuation call.
Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $77.45.
Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).
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