Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives $8.67 Consensus Price Target from Analysts

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.6667.

A number of research firms recently commented on BBBY. Zacks Research upgraded Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings raised Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Finally, Wedbush lifted their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd.

Bed Bath & Beyond Trading Up 0.6%

NYSE BBBY opened at $4.38 on Friday. The company has a market capitalization of $417.07 million, a price-to-earnings ratio of -3.84 and a beta of 2.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.59. Bed Bath & Beyond has a 12 month low of $4.18 and a 12 month high of $12.65. The company’s fifty day moving average price is $5.38 and its two-hundred day moving average price is $5.29.

Bed Bath & Beyond (NYSE:BBBY) last released its earnings results on Tuesday, August 4th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.23). The company had revenue of $361.16 million during the quarter. Bed Bath & Beyond had a negative return on equity of 37.60% and a negative net margin of 7.13%.During the same period in the prior year, the firm earned ($0.34) earnings per share. As a group, research analysts predict that Bed Bath & Beyond will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joanna M. Burkey sold 9,943 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the sale, the director directly owned 32,474 shares of the company’s stock, valued at approximately $207,184.12. This represents a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Bed Bath & Beyond

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of Bed Bath & Beyond during the second quarter worth $33,000. Public Employees Retirement System of Ohio bought a new position in shares of Bed Bath & Beyond in the 4th quarter worth about $37,000. Legal & General Group Plc acquired a new position in shares of Bed Bath & Beyond in the 2nd quarter valued at about $42,000. New York State Common Retirement Fund acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at about $47,000. Finally, Pingora Partners LLC bought a new stake in shares of Bed Bath & Beyond during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.