Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives $10.20 Average Price Target from Brokerages

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $10.20.

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, October 8th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Bed Bath & Beyond in a research note on Tuesday, October 21st. Barclays set a $8.00 target price on Bed Bath & Beyond and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Wall Street Zen raised Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th.

Bed Bath & Beyond Price Performance

Shares of Bed Bath & Beyond stock opened at $6.02 on Thursday. The firm has a market cap of $414.11 million, a price-to-earnings ratio of -2.14 and a beta of 2.70. The stock has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $7.97. Bed Bath & Beyond has a 52-week low of $3.54 and a 52-week high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings data on Monday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.19. Bed Bath & Beyond had a negative net margin of 13.50% and a negative return on equity of 57.26%. The business had revenue of $257.19 million during the quarter, compared to analyst estimates of $258.35 million. As a group, equities research analysts predict that Bed Bath & Beyond will post -3.75 earnings per share for the current year.

Institutional Investors Weigh In On Bed Bath & Beyond

Several institutional investors and hedge funds have recently bought and sold shares of BBBY. Ameritas Investment Partners Inc. raised its stake in shares of Bed Bath & Beyond by 25.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock valued at $39,000 after acquiring an additional 1,133 shares during the last quarter. Haven Private LLC raised its holdings in shares of Bed Bath & Beyond by 10.8% in the second quarter. Haven Private LLC now owns 13,620 shares of the company’s stock valued at $94,000 after buying an additional 1,325 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Bed Bath & Beyond by 85.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock worth $25,000 after buying an additional 1,669 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Bed Bath & Beyond by 33.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock worth $51,000 after buying an additional 1,828 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in Bed Bath & Beyond by 21.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company’s stock worth $108,000 after acquiring an additional 3,304 shares during the last quarter. Institutional investors own 76.30% of the company’s stock.

Bed Bath & Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.