Best Buy’s (BBY) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Best Buy (NYSE:BBY) in a research report released on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $95.00 price target on the technology retailer’s stock.

A number of other equities research analysts have also weighed in on BBY. Loop Capital raised their price objective on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Evercore reduced their target price on Best Buy from $80.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, February 3rd. Citigroup dropped their price target on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Wells Fargo & Company cut their price target on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Finally, UBS Group raised their price objective on shares of Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.79.

Best Buy Price Performance

Shares of BBY stock opened at $62.82 on Tuesday. The firm has a fifty day simple moving average of $67.29 and a 200-day simple moving average of $73.04. The company has a market capitalization of $13.16 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. Best Buy has a twelve month low of $54.99 and a twelve month high of $90.86. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Equities research analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Trading of Best Buy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its position in Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares during the period. Torren Management LLC acquired a new stake in shares of Best Buy in the 4th quarter worth about $25,000. MV Capital Management Inc. bought a new stake in Best Buy in the 4th quarter valued at about $25,000. Palisade Asset Management LLC acquired a new position in Best Buy during the 3rd quarter valued at about $25,000. Finally, Hillsdale Investment Management Inc. bought a new position in Best Buy in the 4th quarter worth about $29,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.