Bed Bath & Beyond (NASDAQ:BBBY) Price Target Raised to $18.00

Bed Bath & Beyond (NASDAQ:BBBY) had its target price upped by equities research analysts at UBS Group from $13.00 to $18.00 in a research report issued on Thursday, April 11th, The Fly reports. The firm currently has a “neutral” rating on the retailer’s stock. UBS Group’s price objective indicates a potential upside of 9.42% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Raymond James upgraded shares of Bed Bath & Beyond from an “outperform” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Tuesday, March 26th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. Loop Capital raised their price objective on shares of Bed Bath & Beyond to $16.00 and gave the company an “average” rating in a research note on Friday, March 29th. Morgan Stanley raised shares of Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $13.00 to $20.00 in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised shares of Bed Bath & Beyond from an “underweight” rating to a “neutral” rating and set a $20.00 price objective on the stock in a research note on Tuesday, March 26th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.61.

NASDAQ:BBBY opened at $16.45 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 8.45 and a beta of 1.14. Bed Bath & Beyond has a 12 month low of $10.46 and a 12 month high of $21.44.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, April 10th. The retailer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Bed Bath & Beyond had a negative net margin of 1.14% and a positive return on equity of 9.77%. During the same period last year, the company posted $1.48 earnings per share. As a group, research analysts anticipate that Bed Bath & Beyond will post 1.98 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Bed Bath & Beyond by 3.0% during the fourth quarter. BlackRock Inc. now owns 16,426,666 shares of the retailer’s stock valued at $185,947,000 after purchasing an additional 481,982 shares in the last quarter. FMR LLC lifted its position in shares of Bed Bath & Beyond by 1.8% during the fourth quarter. FMR LLC now owns 14,716,001 shares of the retailer’s stock valued at $166,586,000 after purchasing an additional 264,950 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bed Bath & Beyond by 1.1% during the third quarter. Vanguard Group Inc. now owns 12,346,235 shares of the retailer’s stock valued at $185,193,000 after purchasing an additional 138,648 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Bed Bath & Beyond by 1.1% during the third quarter. Vanguard Group Inc now owns 12,346,235 shares of the retailer’s stock valued at $185,193,000 after purchasing an additional 138,648 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bed Bath & Beyond by 13.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock valued at $127,458,000 after purchasing an additional 1,317,631 shares in the last quarter. 97.43% of the stock is currently owned by institutional investors.

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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