Oppenheimer Holdings, Inc. restated their hold rating on shares of Best Buy Co., Inc. (NYSE:BBY) in a report published on Tuesday morning.

BBY has been the subject of a number of other research reports. Jefferies Group LLC reiterated a buy rating and set a $60.00 price objective on shares of Best Buy Co. in a research note on Thursday, July 6th. Loop Capital reiterated a buy rating and set a $72.00 price objective on shares of Best Buy Co. in a research note on Wednesday, August 16th. Wedbush reiterated an underperform rating and set a $29.00 price objective on shares of Best Buy Co. in a research note on Monday, May 22nd. UBS AG reiterated a buy rating and set a $51.00 price objective (up previously from $47.00) on shares of Best Buy Co. in a research note on Wednesday, May 24th. Finally, Sanford C. Bernstein set a $47.00 price objective on Best Buy Co. and gave the company a sell rating in a research note on Tuesday, July 11th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Best Buy Co. has a consensus rating of Buy and an average price target of $57.42.

Shares of Best Buy Co. (BBY) opened at 55.02 on Tuesday. Best Buy Co. has a 12-month low of $36.51 and a 12-month high of $63.32. The firm has a market cap of $16.78 billion, a P/E ratio of 14.80 and a beta of 1.45. The stock has a 50 day moving average price of $58.19 and a 200 day moving average price of $52.51.

Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, equities analysts expect that Best Buy Co. will post $3.90 earnings per share for the current year.

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In other Best Buy Co. news, VP Mathew Watson sold 503 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $59.00, for a total transaction of $29,677.00. Following the completion of the sale, the vice president now owns 15,767 shares in the company, valued at $930,253. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hubert Joly sold 14,734 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $59.92, for a total value of $882,861.28. Following the sale, the chief executive officer now owns 540,694 shares of the company’s stock, valued at approximately $32,398,384.48. The disclosure for this sale can be found here. In the last three months, insiders sold 61,924 shares of company stock worth $3,562,092. 0.84% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of BBY. Commerzbank Aktiengesellschaft FI raised its stake in shares of Best Buy Co. by 19.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 70,473 shares of the technology retailer’s stock valued at $3,464,000 after buying an additional 11,690 shares in the last quarter. Geneva Advisors LLC acquired a new stake in shares of Best Buy Co. during the first quarter valued at approximately $690,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Best Buy Co. by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,302 shares of the technology retailer’s stock valued at $2,866,000 after buying an additional 4,732 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Best Buy Co. during the first quarter valued at approximately $134,000. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Best Buy Co. by 4.2% in the first quarter. Tocqueville Asset Management L.P. now owns 7,163 shares of the technology retailer’s stock valued at $352,000 after buying an additional 291 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

About Best Buy Co.

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 has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Analyst Recommendations for Best Buy Co. (NYSE:BBY)

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