Best Buy Co., Inc. (NYSE:BBY)‘s stock had its “buy” rating reissued by research analysts at Loop Capital in a note issued to investors on Thursday. They currently have a $72.00 target price on the technology retailer’s stock. Loop Capital’s price objective points to a potential upside of 32.87% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on BBY. Zacks Investment Research cut shares of Best Buy Co. from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank Of Canada raised their price target on shares of Best Buy Co. from $60.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Best Buy Co. in a research note on Tuesday. Barclays PLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Best Buy Co. in a research note on Monday. Finally, BidaskClub raised shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $58.25.

Best Buy Co. (BBY) traded down 0.41% during trading on Thursday, reaching $53.97. 4,878,498 shares of the company were exchanged. The firm has a market capitalization of $16.41 billion, a PE ratio of 14.28 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. has a 12 month low of $36.51 and a 12 month high of $63.32.

Best Buy Co. (NYSE:BBY) last posted its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts expect that Best Buy Co. will post $4.04 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/31/best-buy-co-inc-bby-rating-reiterated-by-loop-capital.html.

In other Best Buy Co. news, insider Shari L. Ballard sold 2,246 shares of Best Buy Co. stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $134,580.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mathew Watson sold 503 shares of Best Buy Co. 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 transaction, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $930,253. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,924 shares of company stock valued at $3,562,092. 1.21% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BBY. Lord Abbett & CO. LLC increased its position in Best Buy Co. by 23.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,292,100 shares of the technology retailer’s stock worth $74,076,000 after buying an additional 243,300 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Best Buy Co. by 344.4% in the second quarter. Toronto Dominion Bank now owns 90,090 shares of the technology retailer’s stock valued at $5,164,000 after buying an additional 69,819 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Best Buy Co. by 13.2% in the second quarter. Public Employees Retirement System of Ohio now owns 144,978 shares of the technology retailer’s stock valued at $8,312,000 after buying an additional 16,858 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Best Buy Co. during the second quarter valued at about $1,164,000. Finally, 361 Capital LLC increased its position in shares of Best Buy Co. by 16.4% in the second quarter. 361 Capital LLC now owns 200,664 shares of the technology retailer’s stock valued at $11,504,000 after buying an additional 28,261 shares during the period. 86.43% of the stock is owned by hedge funds and other institutional investors.

Best Buy Co. 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 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)

Receive News & Stock Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related stocks with our FREE daily email newsletter.