Bed Bath & Beyond (NASDAQ:BBBY) Lowered to Strong Sell at ValuEngine

Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, ValuEngine reports.

Several other research firms have also recently issued reports on BBBY. Wedbush reiterated an “outperform” rating and issued a $16.00 target price on shares of Bed Bath & Beyond in a research note on Thursday, October 10th. Bank of America set a $20.00 target price on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research note on Thursday, October 10th. TheStreet cut shares of Bed Bath & Beyond from a “c-” rating to a “d+” rating in a research note on Monday, July 22nd. Jefferies Financial Group lowered their target price on shares of Bed Bath & Beyond from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Loop Capital lowered their target price on shares of Bed Bath & Beyond from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.44.

Shares of BBBY stock traded up $0.70 during trading on Tuesday, reaching $13.76. 7,636,513 shares of the company’s stock traded hands, compared to its average volume of 7,358,437. The company has a market capitalization of $1.65 billion, a P/E ratio of 6.71, a PEG ratio of 6.53 and a beta of 1.25. The company has a current ratio of 1.46, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm’s 50-day moving average is $10.72 and its 200 day moving average is $12.08. Bed Bath & Beyond has a 1 year low of $7.31 and a 1 year high of $19.57.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, October 2nd. The retailer reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Bed Bath & Beyond had a negative net margin of 6.36% and a positive return on equity of 10.20%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the company posted $0.36 EPS. Bed Bath & Beyond’s revenue was down 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bed Bath & Beyond will post 1.92 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Bed Bath & Beyond by 20.2% during the 2nd quarter. Vanguard Group Inc. now owns 15,982,481 shares of the retailer’s stock valued at $185,717,000 after buying an additional 2,684,312 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Bed Bath & Beyond by 25.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,089,772 shares of the retailer’s stock valued at $43,515,000 after buying an additional 838,679 shares in the last quarter. Invesco Ltd. raised its position in shares of Bed Bath & Beyond by 505.0% during the 2nd quarter. Invesco Ltd. now owns 3,712,146 shares of the retailer’s stock valued at $43,135,000 after buying an additional 3,098,546 shares in the last quarter. Man Group plc raised its position in shares of Bed Bath & Beyond by 250.5% during the 2nd quarter. Man Group plc now owns 2,910,357 shares of the retailer’s stock valued at $33,819,000 after buying an additional 2,079,908 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Bed Bath & Beyond by 5.2% during the 2nd quarter. LSV Asset Management now owns 1,698,678 shares of the retailer’s stock valued at $19,738,000 after buying an additional 84,000 shares in the last quarter.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It 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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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