Bed Bath & Beyond (NASDAQ:BBBY) Price Target Increased to $22.00 by Analysts at Raymond James

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Bed Bath & Beyond (NASDAQ:BBBY) had its target price upped by investment analysts at Raymond James from $16.00 to $22.00 in a report released on Friday, Benzinga reports. The firm presently has a “strong-buy” rating on the retailer’s stock. Raymond James’ price objective indicates a potential upside of 17.36% from the stock’s current price.

BBBY has been the topic of several other research reports. Robert W. Baird upgraded Bed Bath & Beyond from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $13.00 to $20.00 in a research note on Thursday, September 24th. UBS Group increased their price target on Bed Bath & Beyond from $5.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Guggenheim reiterated a “hold” rating on shares of Bed Bath & Beyond in a research report on Wednesday, July 15th. Bank of America increased their price target on Bed Bath & Beyond from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. Finally, Wedbush reiterated a “positive” rating and set a $15.00 price target on shares of Bed Bath & Beyond in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.69.

Shares of BBBY opened at $18.75 on Friday. The company has a market capitalization of $1.89 billion, a P/E ratio of -4.26 and a beta of 2.37. Bed Bath & Beyond has a one year low of $3.43 and a one year high of $20.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.64 and a current ratio of 1.55. The stock has a 50-day moving average price of $12.54 and a 200 day moving average price of $8.86.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Thursday, October 1st. The retailer reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.76. Bed Bath & Beyond had a negative return on equity of 11.52% and a negative net margin of 5.51%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Bed Bath & Beyond’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Bed Bath & Beyond will post -2.28 earnings per share for the current fiscal year.

In other news, Director Sue Gove purchased 34,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was purchased at an average cost of $7.89 per share, with a total value of $268,260.00. Following the purchase, the director now owns 42,342 shares in the company, valued at approximately $334,078.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Yerger purchased 6,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were purchased at an average cost of $8.29 per share, with a total value of $49,740.00. Following the completion of the purchase, the director now owns 17,371 shares in the company, valued at approximately $144,005.59. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Bed Bath & Beyond by 159.5% during the 2nd quarter. Principal Financial Group Inc. now owns 975,534 shares of the retailer’s stock worth $10,340,000 after acquiring an additional 599,618 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Bed Bath & Beyond by 140.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 308,811 shares of the retailer’s stock worth $1,300,000 after acquiring an additional 180,213 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Bed Bath & Beyond by 12.6% during the 1st quarter. AQR Capital Management LLC now owns 1,065,379 shares of the retailer’s stock worth $4,485,000 after acquiring an additional 119,317 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Bed Bath & Beyond during the 1st quarter worth $397,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bed Bath & Beyond by 94.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,696 shares of the retailer’s stock worth $166,000 after acquiring an additional 7,607 shares in the last quarter.

Bed Bath & Beyond Company Profile

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.

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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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