Best Buy (NYSE:BBY) Earns Equal Weight Rating from Barclays

Best Buy (NYSE:BBY)‘s stock had its “equal weight” rating reiterated by research analysts at Barclays in a research report issued on Friday,Benzinga reports. They presently have a $74.00 target price on the technology retailer’s stock. Barclays‘s price target points to a potential upside of 0.56% from the stock’s current price.

A number of other brokerages have also recently weighed in on BBY. Piper Sandler restated a “neutral” rating and issued a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Wedbush dropped their target price on shares of Best Buy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday. Loop Capital dropped their target price on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Finally, BNP Paribas upgraded shares of Best Buy to a “hold” rating in a research note on Friday, May 30th. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus target price of $84.44.

Best Buy Price Performance

Shares of BBY opened at $73.59 on Friday. The stock has a market cap of $15.55 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.32 and a current ratio of 1.04. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The firm’s 50-day simple moving average is $69.82 and its two-hundred day simple moving average is $71.35.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC grew its stake in Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock valued at $45,000 after acquiring an additional 141 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Best Buy by 1.5% during the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares during the last quarter. Community Bank & Trust Waco Texas lifted its position in Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock valued at $2,280,000 after purchasing an additional 145 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Best Buy by 25.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer’s stock valued at $53,000 after purchasing an additional 147 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.