Best Buy Co., Inc. (NYSE:BBY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Deutsche Bank AG in a report issued on Thursday. They presently have a $58.00 price objective on the technology retailer’s stock, down from their previous price objective of $60.00. Deutsche Bank AG’s price target points to a potential upside of 7.03% from the stock’s previous close.

Other research analysts have also issued reports about the company. UBS AG reiterated a “buy” rating and issued a $51.00 target price (up from $47.00) on shares of Best Buy Co. in a report on Wednesday, May 24th. Jefferies Group LLC upgraded Best Buy Co. from a “hold” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a report on Tuesday, May 30th. Bank of America Corporation reiterated a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Goldman Sachs Group Inc reiterated a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $60.00 target price (up from $47.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $58.64.

Best Buy Co. (NYSE BBY) traded up 0.13% during trading on Thursday, hitting $54.26. The stock had a trading volume of 8,386,682 shares. Best Buy Co. has a 12 month low of $36.51 and a 12 month high of $63.32. The company’s 50 day moving average is $58.19 and its 200-day moving average is $52.51. The company has a market cap of $16.50 billion, a PE ratio of 14.36 and a beta of 1.45.

Best Buy Co. (NYSE:BBY) last released its earnings results 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 firm had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. Best Buy Co.’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. On average, equities research analysts predict that Best Buy Co. will post $4.04 earnings per share for the current year.

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In related news, insider Asheesh Saksena sold 18,706 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $57.08, for a total value of $1,067,738.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mathew Watson sold 503 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $59.00, for a total value of $29,677.00. Following the completion of the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $930,253. The disclosure for this sale can be found here. Insiders sold a total of 61,924 shares of company stock worth $3,562,092 in the last 90 days. 1.21% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Cleararc Capital Inc. boosted its position in shares of Best Buy Co. by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,644 shares of the technology retailer’s stock valued at $327,000 after buying an additional 18 shares during the period. Nordea Investment Management AB boosted its position in Best Buy Co. by 0.3% in the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock valued at $860,000 after buying an additional 48 shares during the last quarter. Advisor Group Inc. boosted its position in Best Buy Co. by 1.2% in the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock valued at $265,000 after buying an additional 55 shares during the last quarter. CENTRAL TRUST Co boosted its position in Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock valued at $304,000 after buying an additional 100 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Best Buy Co. by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,173 shares of the technology retailer’s stock valued at $844,000 after buying an additional 106 shares during the last quarter. Hedge funds and other 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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