BidaskClub Lowers Bed Bath & Beyond (NASDAQ:BBBY) to Strong Sell

BidaskClub lowered shares of Bed Bath & Beyond (NASDAQ:BBBY) from a sell rating to a strong sell rating in a research note released on Friday, BidAskClub reports.

Several other brokerages have also recently issued reports on BBBY. Loop Capital restated an average rating and issued a $12.00 price target on shares of Bed Bath & Beyond in a research report on Tuesday, July 9th. Citigroup dropped their price target on Bed Bath & Beyond from $18.00 to $13.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. Morgan Stanley dropped their price target on Bed Bath & Beyond from $20.00 to $13.00 and set an equal weight rating on the stock in a research report on Friday, July 12th. Goldman Sachs Group started coverage on Bed Bath & Beyond in a research report on Thursday, July 11th. They issued a sell rating and a $11.00 price target on the stock. Finally, Bank of America set a $25.00 price target on Bed Bath & Beyond and gave the company a buy rating in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Bed Bath & Beyond has an average rating of Hold and an average target price of $15.55.

Shares of BBBY stock opened at $7.48 on Friday. The stock has a market capitalization of $945.53 million, a PE ratio of 3.65, a price-to-earnings-growth ratio of 3.87 and a beta of 1.22. Bed Bath & Beyond has a 52-week low of $7.31 and a 52-week high of $19.59. The stock’s 50-day moving average price is $9.93 and its 200 day moving average price is $13.89. The company has a quick ratio of 0.48, a current ratio of 1.52 and a debt-to-equity ratio of 1.58.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Bed Bath & Beyond had a positive return on equity of 9.49% and a negative net margin of 4.66%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. Analysts expect that Bed Bath & Beyond will post 1.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date of this dividend is Thursday, September 12th. Bed Bath & Beyond’s dividend payout ratio is presently 33.17%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Investors Research Corp purchased a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $27,000. Motco purchased a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $30,000. Penserra Capital Management LLC purchased a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $30,000. Parallel Advisors LLC boosted its stake in shares of Bed Bath & Beyond by 13.6% during the 1st quarter. Parallel Advisors LLC now owns 5,446 shares of the retailer’s stock worth $93,000 after acquiring an additional 653 shares in the last quarter. Finally, Anderson Fisher LLC purchased a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $82,000. 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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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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