Best Buy (NYSE:BBY) Rating Increased to Buy at Wall Street Zen

Best Buy (NYSE:BBY) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Piper Sandler reaffirmed a “neutral” rating and set a $75.00 price target (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. BNP Paribas raised Best Buy to a “hold” rating in a research report on Friday, May 30th. Loop Capital lowered their price target on Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company boosted their price target on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Wedbush lifted their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $82.59.

Best Buy Stock Down 3.2%

NYSE:BBY opened at $75.96 on Friday. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. Best Buy has a twelve month low of $54.99 and a twelve month high of $103.48. The stock’s 50 day moving average price is $71.19 and its two-hundred day moving average price is $70.51. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

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

Insider Buying and Selling at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. The trade was a 9.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock valued at $14,941,472 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBY. Pinnacle Bancorp Inc. raised its stake in Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy in the second quarter valued at about $26,000. Vermillion Wealth Management Inc. acquired a new position in Best Buy in the fourth quarter valued at about $31,000. Grove Bank & Trust raised its stake in Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy during the 2nd quarter worth $33,000. Institutional investors and hedge funds 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.