Bed Bath & Beyond (BBBY) Rating Lowered to Sell at BidaskClub

Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Monday, BidAskClub reports.

Other analysts have also issued reports about the stock. Loop Capital increased their target price on shares of Bed Bath & Beyond to $16.00 and gave the stock an “average” rating in a report on Friday, March 29th. Bank of America upgraded shares of Bed Bath & Beyond from an “underperform” rating to a “buy” rating and increased their target price for the stock from $11.00 to $21.00 in a report on Tuesday, March 26th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Monday, March 4th. Morgan Stanley upgraded shares of Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $13.00 to $20.00 in a report on Friday, April 5th. Finally, ValuEngine upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.61.

Bed Bath & Beyond stock opened at $14.72 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.91 billion, a PE ratio of 7.18, a PEG ratio of 7.59 and a beta of 1.14. Bed Bath & Beyond has a 1-year low of $10.46 and a 1-year high of $21.44.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its earnings results on Wednesday, April 10th. The retailer reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.09. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $1.48 earnings per share. Sell-side analysts predict that Bed Bath & Beyond will post 1.98 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of BBBY. Renaissance Technologies LLC lifted its holdings in Bed Bath & Beyond by 562.7% in the first quarter. Renaissance Technologies LLC now owns 5,222,860 shares of the retailer’s stock worth $88,736,000 after buying an additional 4,434,800 shares during the period. Norges Bank purchased a new stake in Bed Bath & Beyond in the fourth quarter worth about $27,760,000. OppenheimerFunds Inc. lifted its holdings in Bed Bath & Beyond by 961.2% in the first quarter. OppenheimerFunds Inc. now owns 2,600,532 shares of the retailer’s stock worth $44,183,000 after buying an additional 2,355,487 shares during the period. Contrarius Investment Management Ltd lifted its holdings in Bed Bath & Beyond by 32.9% in the fourth quarter. Contrarius Investment Management Ltd now owns 9,207,291 shares of the retailer’s stock worth $104,227,000 after buying an additional 2,276,723 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Bed Bath & Beyond by 40.4% in the first quarter. AQR Capital Management LLC now owns 6,646,656 shares of the retailer’s stock worth $112,927,000 after buying an additional 1,911,778 shares during the period. Institutional investors and hedge funds own 97.43% of the company’s stock.

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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