Bed Bath & Beyond (NYSE:BBBY) Rating Increased to Hold at Zacks Research

Bed Bath & Beyond (NYSE:BBBY) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on BBBY. Wedbush raised their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday. Weiss Ratings cut shares of Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Piper Sandler set a $8.00 target price on Bed Bath & Beyond and gave the company a “neutral” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.67.

Bed Bath & Beyond Stock Down 5.5%

NYSE BBBY opened at $6.33 on Wednesday. The firm has a market cap of $468.10 million, a PE ratio of -6.66 and a beta of 2.86. Bed Bath & Beyond has a 52 week low of $4.26 and a 52 week high of $12.65. The company has a 50 day moving average price of $5.62 and a 200 day moving average price of $5.59.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings data on Monday, April 27th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.The firm had revenue of $248.00 million during the quarter. On average, equities research analysts anticipate that Bed Bath & Beyond will post -0.79 earnings per share for the current fiscal year.

Insider Activity at Bed Bath & Beyond

In other news, Director Joanna M. Burkey sold 9,943 shares of Bed Bath & Beyond stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the completion of the sale, the director directly owned 32,474 shares of the company’s stock, valued at approximately $207,184.12. The trade was a 23.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Bed Bath & Beyond

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Bed Bath & Beyond during the second quarter worth about $33,000. Public Employees Retirement System of Ohio acquired a new position in Bed Bath & Beyond during the fourth quarter worth approximately $37,000. New York State Common Retirement Fund acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $47,000. Stockman Wealth Management Inc. acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $55,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Bed Bath & Beyond during the 4th quarter worth $63,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.