Best Buy (NYSE:BBY) had its price target increased by equities researchers at Raymond James from $87.00 to $90.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the technology retailer’s stock. Raymond James’ price objective would indicate a potential upside of 15.37% from the company’s previous close.

BBY has been the topic of several other research reports. ValuEngine upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Wells Fargo & Co restated a “hold” rating and set a $78.00 price objective on shares of Best Buy in a research report on Tuesday. Wedbush set a $65.00 price objective on shares of Best Buy and gave the company a “sell” rating in a research report on Thursday, August 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Best Buy in a research report on Tuesday, August 21st. They set a “hold” rating and a $79.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.35.

Shares of NYSE:BBY opened at $78.01 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. Best Buy has a one year low of $51.61 and a one year high of $84.37. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.34 and a beta of 0.79.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.08. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The firm had revenue of $9.38 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. equities analysts expect that Best Buy will post 5.09 earnings per share for the current fiscal year.

In other Best Buy news, insider Kathleen Scarlett sold 1,225 shares of the firm’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $68.85, for a total value of $84,341.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Asheesh Saksena sold 18,570 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $73.69, for a total transaction of $1,368,423.30. Following the completion of the sale, the insider now directly owns 77,478 shares in the company, valued at approximately $5,709,353.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,252 shares of company stock worth $1,485,915. 0.75% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its stake in Best Buy by 448.0% during the first quarter. OppenheimerFunds Inc. now owns 2,893,720 shares of the technology retailer’s stock worth $202,532,000 after acquiring an additional 2,365,675 shares in the last quarter. Marshall Wace LLP boosted its stake in Best Buy by 454.5% during the second quarter. Marshall Wace LLP now owns 1,287,293 shares of the technology retailer’s stock worth $96,006,000 after acquiring an additional 1,055,122 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Best Buy by 84.4% during the second quarter. Janus Henderson Group PLC now owns 2,102,292 shares of the technology retailer’s stock worth $156,794,000 after acquiring an additional 962,231 shares in the last quarter. LSV Asset Management boosted its stake in Best Buy by 31.1% during the second quarter. LSV Asset Management now owns 3,134,306 shares of the technology retailer’s stock worth $233,756,000 after acquiring an additional 742,913 shares in the last quarter. Finally, Mackay Shields LLC bought a new stake in Best Buy during the first quarter worth about $38,919,000. 82.10% of the stock is currently owned by hedge funds and other institutional investors.

About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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