Best Buy (NYSE:BBY) Earns Outperform Rating from Telsey Advisory Group

Best Buy (NYSE:BBY)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $90.00 price target on the technology retailer’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 20.53% from the company’s current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Bank of America lowered their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research report on Friday, August 29th. Finally, Wedbush increased their target price on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.88.

Best Buy Trading Down 1.4%

Shares of NYSE:BBY opened at $74.67 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.21 and a beta of 1.25. Best Buy has a 1-year low of $54.99 and a 1-year high of $95.49. The company has a 50 day moving average price of $77.60 and a 200 day moving average price of $72.95.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue was up 1.6% on a year-over-year basis. 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. On average, research analysts anticipate that Best Buy will post 6.18 EPS for the current fiscal year.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,736,826 shares of company stock worth $141,568,327 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its stake in shares of Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after purchasing an additional 3,496,254 shares during the last quarter. Norges Bank acquired a new stake in shares of Best Buy in the second quarter worth about $171,851,000. Pacer Advisors Inc. boosted its stake in shares of Best Buy by 3,890.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock worth $75,353,000 after acquiring an additional 998,021 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Best Buy during the 3rd quarter valued at about $55,475,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Best Buy by 2,683.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,687 shares of the technology retailer’s stock valued at $52,381,000 after acquiring an additional 667,801 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Company Profile

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.