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Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by equities researchers at Wolfe from a “market perform” rating to an “underperform” rating in a research report issued on Tuesday, reports. They currently have a $55.00 target price on the stock. Wolfe’s price objective would indicate a potential downside of 9.48% from the stock’s previous close.

Bed Bath & Beyond (NASDAQ:BBBY) opened at 60.76 on Tuesday. Bed Bath & Beyond has a 52-week low of $60.29 and a 52-week high of $80.82. The stock has a 50-day moving average of $61.77 and a 200-day moving average of $67.89. The company has a market cap of $12.241 billion and a price-to-earnings ratio of 12.79. Bed Bath & Beyond also was the target of a significant increase in short interest in the month of May. As of May 30th, there was short interest totalling 9,574,338 shares, an increase of 24.6% from the May 15th total of 7,685,427 shares. Based on an average trading volume of 2,327,087 shares, the days-to-cover ratio is currently 4.1 days. Approximately 4.8% of the shares of the stock are sold short.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $1.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.60. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that Bed Bath & Beyond will post $5.05 EPS for the current fiscal year.

A number of other firms have also recently commented on BBBY. Analysts at Zacks reiterated a “neutral” rating on shares of Bed Bath & Beyond in a research note on Thursday, April 24th. They now have a $66.00 price target on the stock. Separately, analysts at Williams Capital cut their price target on shares of Bed Bath & Beyond from $94.00 to $78.00 in a research note on Monday, April 14th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $73.10.

Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).

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