Best Buy (NYSE:BBY) Price Target Cut to $73.00 by Analysts at Truist Financial

Best Buy (NYSE:BBY) had its price objective decreased by analysts at Truist Financial from $77.00 to $73.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the technology retailer’s stock. Truist Financial’s price objective indicates a potential upside of 7.21% from the company’s current price.

Several other research analysts also recently weighed in on BBY. Evercore ISI dropped their price target on Best Buy from $85.00 to $80.00 and set an “in-line” rating for the company in a research note on Tuesday, December 9th. The Goldman Sachs Group lowered their target price on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Wedbush restated a “neutral” rating and set a $75.00 target price on shares of Best Buy in a research report on Thursday, November 20th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, BNP Paribas Exane decreased their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average target price of $83.37.

Best Buy Trading Up 2.1%

Shares of BBY stock opened at $68.09 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The stock has a fifty day simple moving average of $72.99 and a two-hundred day simple moving average of $73.58. The firm has a market capitalization of $14.27 billion, a PE ratio of 22.55, a PEG ratio of 1.69 and a beta of 1.41. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.68.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, analysts predict that Best Buy will post 6.18 EPS for the current fiscal year.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the sale, the chairman directly owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its stake in shares of Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in Best Buy during the 3rd quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy in the second quarter worth $26,000. Root Financial Partners LLC bought a new stake in Best Buy in the third quarter worth $32,000. Finally, Wolff Wiese Magana LLC purchased a new position in Best Buy during the fourth quarter worth $32,000. 80.96% of the stock is owned by institutional investors.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.