Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Average Recommendation of “Hold” by Brokerages

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $8.8571.

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. 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. Finally, Wedbush lifted their price target on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd.

Bed Bath & Beyond Stock Up 5.8%

Shares of NYSE:BBBY opened at $9.77 on Wednesday. Bed Bath & Beyond has a 12 month low of $3.54 and a 12 month high of $11.67. The company’s fifty day simple moving average is $9.38 and its 200 day simple moving average is $7.02. The firm has a market cap of $560.80 million, a price-to-earnings ratio of -2.40 and a beta of 2.77.

Bed Bath & Beyond’s stock is set to split on the morning of Thursday, October 2nd. The 11-10 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Wednesday, October 1st.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.15. The business had revenue of $282.25 million during the quarter, compared to the consensus estimate of $250.37 million. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.Bed Bath & Beyond’s quarterly revenue was down 29.1% on a year-over-year basis. During the same period last year, the company earned ($0.76) earnings per share. Research analysts expect that Bed Bath & Beyond will post -3.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its stake in Bed Bath & Beyond by 25.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock valued at $39,000 after buying an additional 1,133 shares during the last quarter. Haven Private LLC boosted its holdings in shares of Bed Bath & Beyond by 10.8% during the second quarter. Haven Private LLC now owns 13,620 shares of the company’s stock worth $94,000 after acquiring an additional 1,325 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Bed Bath & Beyond by 85.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock valued at $25,000 after purchasing an additional 1,669 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Bed Bath & Beyond by 33.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock worth $51,000 after purchasing an additional 1,828 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings 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 last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

About Bed Bath & Beyond

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.