Analysts’ Weekly Ratings Updates for Bed Bath & Beyond (BBBY)

Several brokerages have updated their recommendations and price targets on shares of Bed Bath & Beyond (NASDAQ: BBBY) in the last few weeks:

  • 4/20/2022 – Bed Bath & Beyond was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. They now have a $14.00 price target on the stock. According to Zacks, “Shares of Bed Bath & Beyond have lagged the industry in a year, courtesy of a dismal earnings surprise trend that continued in fourth-quarter fiscal 2021. The company reported the fourth straight quarter of an earnings miss in the fiscal fourth quarter. Sales lagged the Zacks Consensus Estimate. Both top and bottom lines were hurt by the adverse impacts of the global supply chain, the omicron variant, and geopolitical turbulence that dampened consumer confidence. The lack of available inventory is likley to persist in early fiscal 2022. Weak margins and high debt levels remain concerning. However, management issued an upbeat fiscal 2022 view. The company is progressing well with the transformation plan, including store fleet optimization and remodeling programs. Its newly launched Owned Brands and enhanced digital capabilities also bode well.”
  • 4/14/2022 – Bed Bath & Beyond had its price target lowered by analysts at Morgan Stanley from $8.00 to $7.00. They now have an “underweight” rating on the stock.
  • 4/14/2022 – Bed Bath & Beyond had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $14.00 to $7.00. They now have a “sell” rating on the stock.
  • 4/14/2022 – Bed Bath & Beyond was downgraded by analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating. They now have a $15.00 price target on the stock, down previously from $18.00.
  • 4/13/2022 – Bed Bath & Beyond had its price target lowered by analysts at Wells Fargo & Company from $20.00 to $10.00.
  • 3/31/2022 – Bed Bath & Beyond is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
  • 3/28/2022 – Bed Bath & Beyond had its price target raised by analysts at B. Riley from $19.00 to $26.00. They now have a “buy” rating on the stock.
  • 3/9/2022 – Bed Bath & Beyond was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. They now have a $24.00 price target on the stock. According to Zacks, “Shares of Bed Bath & Beyond have outpaced the industry in a year. The company is progressing well with the transformation plan, including store fleet optimization efforts and store remodeling programs. Its newly launched Owned Brands and enhanced digital capabilities also bode well. It also continues to gain from its enhanced omnichannel capabilities. The company is on track with enabling cross-banner browsing across Bed Bath & Beyond, buybuy BABY, and Harmon brands. However, the company’s dismal earnings trend continued in third-quarter fiscal 2021, where in it reported third straight quarter of earnings miss. Sales also lagged estimates. Results were affected by weak comps, lack of availability of products and supply-chain woes. The company was unable to fulfill orders due to supply-chain issues. Management cut the fiscal 2021 view.”
  • 3/8/2022 – Bed Bath & Beyond had its price target raised by analysts at Telsey Advisory Group from $15.00 to $18.00. They now have a “market perform” rating on the stock.

Shares of Bed Bath & Beyond stock traded up $0.05 on Thursday, reaching $16.43. 60,069 shares of the stock were exchanged, compared to its average volume of 8,312,073. Bed Bath & Beyond Inc. has a twelve month low of $12.39 and a twelve month high of $44.51. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -2.85 and a beta of 1.59. The business has a 50 day moving average price of $19.33 and a two-hundred day moving average price of $17.64. The company has a quick ratio of 0.31, a current ratio of 1.14 and a debt-to-equity ratio of 6.77.

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) last announced its quarterly 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was down 21.7% compared to the same quarter last year. Research analysts forecast that Bed Bath & Beyond Inc. will post 0.63 EPS for the current year.

Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH purchased a new stake in shares of Bed Bath & Beyond in the third quarter valued at approximately $64,050,000. Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Bed Bath & Beyond in the third quarter valued at approximately $12,329,000. Dimensional Fund Advisors LP increased its position in shares of Bed Bath & Beyond by 18.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,788,025 shares of the retailer’s stock valued at $65,467,000 after buying an additional 598,310 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $8,052,000. Finally, Analyst IMS Investment Management Services Ltd. increased its position in shares of Bed Bath & Beyond by 241.6% in the third quarter. Analyst IMS Investment Management Services Ltd. now owns 525,432 shares of the retailer’s stock valued at $9,077,000 after buying an additional 371,636 shares in the last quarter.

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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