Bed Bath & Beyond (NASDAQ:BBBY) Downgraded by Telsey Advisory Group

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) was downgraded by equities research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a $15.00 price target on the retailer’s stock, down from their previous price target of $18.00. Telsey Advisory Group’s price target indicates a potential downside of 15.54% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group decreased their price target on Bed Bath & Beyond from $20.00 to $15.00 and set a “sell” rating for the company in a research note on Monday, January 10th. B. Riley raised their target price on Bed Bath & Beyond from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, March 28th. Loop Capital decreased their target price on Bed Bath & Beyond from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Friday, January 7th. UBS Group decreased their target price on Bed Bath & Beyond from $20.00 to $13.00 and set a “sell” rating for the company in a research note on Tuesday, January 4th. Finally, Wedbush decreased their target price on Bed Bath & Beyond from $18.00 to $14.00 in a research note on Monday, January 3rd. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.43.

Shares of NASDAQ BBBY opened at $17.76 on Thursday. Bed Bath & Beyond has a 1-year low of $12.39 and a 1-year high of $44.51. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.33 and a quick ratio of 0.47. The business’s fifty day moving average price is $19.28 and its two-hundred day moving average price is $17.76. The firm has a market capitalization of $1.71 billion, a PE ratio of -4.55 and a beta of 1.59.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its quarterly earnings results on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.95). Bed Bath & Beyond had a positive return on equity of 3.22% and a negative net margin of 4.64%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the company posted $0.40 EPS. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. Equities research analysts expect that Bed Bath & Beyond will post -0.13 earnings per share for the current fiscal year.

In other Bed Bath & Beyond news, COO John R. Hartmann acquired 6,667 shares of Bed Bath & Beyond stock in a transaction that occurred on Tuesday, January 18th. The stock was purchased at an average cost of $15.00 per share, with a total value of $100,005.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Bed Bath & Beyond by 4,971.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,420 shares of the retailer’s stock worth $25,000 after purchasing an additional 1,392 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Bed Bath & Beyond by 41.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,662 shares of the retailer’s stock worth $28,000 after purchasing an additional 484 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Bed Bath & Beyond during the 3rd quarter worth about $51,000. Wolff Wiese Magana LLC purchased a new stake in shares of Bed Bath & Beyond during the 3rd quarter worth about $52,000. Finally, US Asset Management LLC purchased a new stake in shares of Bed Bath & Beyond during the 3rd quarter worth about $61,000.

About Bed Bath & Beyond (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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