Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives $7.00 Consensus Target Price from Brokerages

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have earned a consensus rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $7.00.

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. Wedbush decreased their price objective on shares of Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Finally, Piper Sandler set a $8.00 price objective on shares of Bed Bath & Beyond and gave the stock a “neutral” rating in a research report on Tuesday, February 24th.

Bed Bath & Beyond Price Performance

BBBY opened at $4.68 on Wednesday. The firm has a market capitalization of $324.12 million, a P/E ratio of -3.22 and a beta of 3.02. Bed Bath & Beyond has a one year low of $3.54 and a one year high of $12.65. The company has a fifty day moving average price of $5.67 and a 200-day moving average price of $6.98.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. Bed Bath & Beyond had a negative return on equity of 33.44% and a negative net margin of 8.10%.The company had revenue of $273.43 million for the quarter. On average, analysts expect that Bed Bath & Beyond will post -3.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph J. Tabacco, Jr. purchased 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $5.11 per share, with a total value of $102,200.00. Following the acquisition, the director directly owned 167,209 shares of the company’s stock, valued at approximately $854,437.99. This represents a 13.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new position in Bed Bath & Beyond in the fourth quarter valued at $71,000. Lane Brothers & Co. Inc. bought a new stake in Bed Bath & Beyond during the fourth quarter worth about $142,000. Virtu Financial LLC purchased a new position in shares of Bed Bath & Beyond in the 4th quarter worth about $221,000. Invesco Ltd. purchased a new position in shares of Bed Bath & Beyond in the 4th quarter worth about $296,000. Finally, XTX Topco Ltd bought a new position in shares of Bed Bath & Beyond during the 4th quarter valued at about $112,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

About Bed Bath & Beyond

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.