Guggenheim assumed coverage on shares of Best Buy (NYSE:BBY) in a research note released on Monday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $80.00 target price on the technology retailer’s stock.

Several other equities research analysts also recently commented on BBY. Cleveland Research reiterated a neutral rating on shares of Best Buy in a report on Tuesday, June 18th. ValuEngine upgraded Wave Life Sciences from a buy rating to a strong-buy rating in a report on Monday, March 11th. Jefferies Financial Group downgraded MACOM Technology Solutions from a buy rating to a hold rating and dropped their target price for the company from $18.00 to $15.00 in a report on Wednesday, April 24th. Oppenheimer set a $22.00 target price on Par Pacific and gave the company a buy rating in a report on Monday, March 25th. Finally, Evercore ISI assumed coverage on Polarityte in a report on Wednesday, March 20th. They set an outperform rating and a $26.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $77.67.

BBY stock opened at $73.75 on Monday. The firm has a market capitalization of $19.21 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.43 and a beta of 1.07. Best Buy has a twelve month low of $47.72 and a twelve month high of $84.37. The company has a 50 day moving average price of $67.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.12 and a quick ratio of 0.39.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 23rd. The technology retailer reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.14. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Best Buy had a return on equity of 47.91% and a net margin of 3.54%. Best Buy’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, equities research analysts expect that Best Buy will post 5.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 13th were issued a $0.50 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.71%. Best Buy’s dividend payout ratio (DPR) is 37.59%.

In related news, insider Brian A. Tilzer sold 2,739 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $72.88, for a total transaction of $199,618.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hubert Joly sold 600,826 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $64.42, for a total value of $38,705,210.92. The disclosure for this sale can be found here. Insiders sold a total of 1,642,656 shares of company stock valued at $114,057,554 over the last quarter. Company insiders own 0.95% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Best Buy in the first quarter valued at $34,000. Braun Bostich & Associates Inc. acquired a new stake in shares of Best Buy in the first quarter valued at $40,000. PRW Wealth Management LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at $33,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Best Buy in the fourth quarter valued at $33,000. Finally, Alpha Omega Wealth Management LLC lifted its holdings in shares of Best Buy by 28.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 768 shares of the technology retailer’s stock valued at $55,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

Best Buy Company Profile

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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

Featured Story: Cost of Equity For A Business, Investors

Analyst Recommendations for Best Buy (NYSE:BBY)

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.