Best Buy Co. (NYSE:BBY) had its target price upped by analysts at Telsey Advisory Group from $42.00 to $48.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the technology retailer’s stock. Telsey Advisory Group’s target price suggests a potential upside of 4.37% from the company’s current price.

Several other analysts have also recently issued reports on the company. Zacks Investment Research lowered Best Buy from a “strong-buy” rating to a “sell” rating in a report on Tuesday, October 25th. Vetr raised Best Buy from a “hold” rating to a “buy” rating and set a $39.59 price objective on the stock in a report on Thursday, September 8th. Barclays PLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Best Buy in a report on Tuesday, August 23rd. Bank of America Corp. reaffirmed a “sell” rating and set a $29.00 price objective on shares of Best Buy in a report on Wednesday, August 24th. Finally, Wedbush reaffirmed a “buy” rating and set a $20.50 price objective on shares of Best Buy in a report on Wednesday, August 17th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. Best Buy currently has a consensus rating of “Hold” and a consensus price target of $38.15.

Analyst Recommendations for Best Buy (NYSE:BBY)

Best Buy (NYSE:BBY) opened at 45.99 on Friday. The company has a market capitalization of $14.59 billion, a P/E ratio of 14.97 and a beta of 1.51. Best Buy has a one year low of $25.31 and a one year high of $46.72. The stock’s 50 day moving average price is $38.88 and its 200-day moving average price is $34.80.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, November 17th. The technology retailer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.15. The company earned $8.95 billion during the quarter, compared to analyst estimates of $8.85 billion. Best Buy had a return on equity of 22.44% and a net margin of 2.62%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. Equities analysts forecast that Best Buy will post $3.05 EPS for the current year.

In other news, VP Mathew Watson sold 1,030 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $39.45, for a total value of $40,633.50. Following the sale, the vice president now owns 18,876 shares in the company, valued at approximately $744,658.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.21% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Conning Inc. boosted its position in Best Buy by 0.3% in the third quarter. Conning Inc. now owns 12,677 shares of the technology retailer’s stock valued at $484,000 after buying an additional 40 shares during the period. Advantus Capital Management Inc boosted its position in Best Buy by 0.4% in the second quarter. Advantus Capital Management Inc now owns 27,269 shares of the technology retailer’s stock valued at $834,000 after buying an additional 108 shares during the period. Blair William & Co. IL boosted its position in Best Buy by 0.7% in the second quarter. Blair William & Co. IL now owns 17,829 shares of the technology retailer’s stock valued at $546,000 after buying an additional 125 shares during the period. World Asset Management Inc boosted its position in Best Buy by 0.5% in the second quarter. World Asset Management Inc now owns 31,449 shares of the technology retailer’s stock valued at $962,000 after buying an additional 172 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock valued at $124,000 after buying an additional 253 shares during the period. 86.48% of the stock is owned by institutional investors and hedge funds.

Best Buy Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.

5 Day Chart for NYSE:BBY

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