Best Buy Co. (NYSE:BBY) had its price objective hosited by B. Riley from $40.00 to $49.00 in a report released on Friday, American Banking and Market News reports. B. Riley currently has a buy rating on the stock.
In other Best Buy Co. news, major shareholder Richard M. Schulze unloaded 1,708,334 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.20, for a total transaction of $73,800,028.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Best Buy Co. (NYSE:BBY) traded up 0.69% during mid-day trading on Friday, hitting $43.99. 2,421,570 shares of the company’s stock traded hands. Best Buy Co. has a 1-year low of $11.20 and a 1-year high of $44.66. The stock’s 50-day moving average is $41.15 and its 200-day moving average is $33.. The company’s market cap is $15.023 billion.
Best Buy Co. (NYSE:BBY) last announced its earnings results on Tuesday, August 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.20. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that Best Buy Co. will post $2.41 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BBY. Analysts at JPMorgan Chase & Co. raised their price target on shares of Best Buy Co. from $36.00 to $49.00 in a research note to investors on Thursday. They now have an overweight rating on the stock. Separately, analysts at Citigroup Inc. reiterated a buy rating on shares of Best Buy Co. in a research note to investors on Thursday. Finally, analysts at SunTrust raised their price target on shares of Best Buy Co. from $46.00 to $55.00 in a research note to investors on Wednesday, November 13th. They now have a buy rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. Best Buy Co. presently has an average rating of Buy and an average price target of $47.84.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
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