Bed Bath & Beyond Inc. (NASDAQ:BBBY) Receives Average Rating of “Hold” from Brokerages

Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) have received an average rating of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $15.50.

BBBY has been the topic of several research reports. Telsey Advisory Group cut Bed Bath & Beyond from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $18.00 to $15.00 in a report on Thursday. Morgan Stanley cut their price objective on Bed Bath & Beyond from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday. KeyCorp cut their price objective on Bed Bath & Beyond from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 5th. UBS Group cut their price objective on Bed Bath & Beyond from $20.00 to $13.00 and set a “sell” rating on the stock in a research note on Tuesday, January 4th. Finally, Robert W. Baird cut their price objective on Bed Bath & Beyond from $22.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 7th.

In other news, COO John R. Hartmann bought 6,667 shares of the stock in a transaction dated Tuesday, January 18th. The stock was bought at an average price of $15.00 per share, for a total transaction of $100,005.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. boosted its position in Bed Bath & Beyond by 14.0% during the fourth quarter. Brown Advisory Inc. now owns 2,830,673 shares of the retailer’s stock worth $41,270,000 after purchasing an additional 346,912 shares during the period. Cubic Asset Management LLC bought a new position in Bed Bath & Beyond during the third quarter worth about $1,094,000. Credit Suisse AG boosted its position in Bed Bath & Beyond by 30.9% during the third quarter. Credit Suisse AG now owns 491,854 shares of the retailer’s stock worth $8,497,000 after purchasing an additional 116,194 shares during the period. Campbell Capital Management Inc. bought a new position in Bed Bath & Beyond during the fourth quarter worth about $247,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Bed Bath & Beyond by 6.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,802 shares of the retailer’s stock worth $221,000 after purchasing an additional 809 shares during the period.

Shares of NASDAQ BBBY traded down $0.39 during mid-day trading on Monday, reaching $16.93. The company had a trading volume of 4,208,498 shares, compared to its average volume of 8,441,881. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.31 and a current ratio of 1.14. Bed Bath & Beyond has a one year low of $12.39 and a one year high of $44.51. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -2.93 and a beta of 1.59. The business’s 50-day simple moving average is $19.33 and its 200 day simple moving average is $17.65.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its earnings results on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.95). Bed Bath & Beyond had a negative net margin of 7.11% and a negative return on equity of 14.09%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue was down 21.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bed Bath & Beyond will post 0.63 EPS for the current year.

Bed Bath & Beyond Company Profile (Get Rating)

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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