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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been given a consensus rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.20.

BBBY has been the subject of several research analyst reports. Wall Street Zen raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th. Barclays set a $8.00 price objective on Bed Bath & Beyond and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Needham & Company LLC reiterated a “hold” rating on shares of Bed Bath & Beyond in a report on Tuesday, July 29th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Bed Bath & Beyond in a research note on Tuesday, October 21st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBBY. CWM LLC lifted its position in Bed Bath & Beyond by 188.8% during the first quarter. CWM LLC now owns 10,745 shares of the company’s stock valued at $62,000 after buying an additional 7,025 shares in the last quarter. WMG Financial Advisors LLC purchased a new position in shares of Bed Bath & Beyond in the 1st quarter valued at $107,000. Wedbush Securities Inc. lifted its holdings in shares of Bed Bath & Beyond by 18.5% during the 1st quarter. Wedbush Securities Inc. now owns 156,483 shares of the company’s stock valued at $908,000 after acquiring an additional 24,460 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Bed Bath & Beyond by 21.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company’s stock worth $108,000 after purchasing an additional 3,304 shares during the period. Finally, Cetera Investment Advisers boosted its position in Bed Bath & Beyond by 23.4% during the 1st quarter. Cetera Investment Advisers now owns 126,530 shares of the company’s stock worth $734,000 after purchasing an additional 23,970 shares during the period. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Bed Bath & Beyond Trading Down 5.5%

NYSE BBBY opened at $6.75 on Thursday. The business’s 50-day moving average price is $9.08 and its 200 day moving average price is $7.94. Bed Bath & Beyond has a twelve month low of $3.54 and a twelve month high of $12.65. The company has a market capitalization of $464.37 million, a PE ratio of -2.40 and a beta of 2.70.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings data on Monday, October 27th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. The company had revenue of $257.19 million during the quarter, compared to the consensus estimate of $258.35 million. Bed Bath & Beyond had a negative net margin of 13.50% and a negative return on equity of 57.26%. Equities analysts predict that Bed Bath & Beyond will post -3.75 EPS for the current year.

Bed Bath & Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.