Morgan Stanley Forecasts Strong Price Appreciation for Best Buy (NYSE:BBY) Stock

Best Buy (NYSE:BBY) had its price target raised by Morgan Stanley from $75.00 to $82.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the technology retailer’s stock. Morgan Stanley’s price target indicates a potential upside of 1.09% from the company’s current price.

Several other research analysts have also recently commented on BBY. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday. Bank of America lowered their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, August 29th. Finally, Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.12.

Best Buy Stock Performance

Shares of NYSE BBY opened at $81.12 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. Best Buy has a 52 week low of $54.99 and a 52 week high of $91.72. The business’s 50-day simple moving average is $77.56 and its 200-day simple moving average is $73.26. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities research analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Insider Activity at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares in the company, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,736,826 shares of company stock valued at $141,568,327 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Best Buy

Several large investors have recently bought and sold shares of BBY. Harbor Capital Advisors Inc. grew its stake in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares in the last quarter. Palisade Asset Management LLC purchased a new position in Best Buy during the third quarter valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in Best Buy in the 2nd quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in shares of Best Buy in the 3rd quarter worth $32,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Best Buy in the second quarter worth $33,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.