Best Buy (NYSE:BBY) Given New $82.00 Price Target at Loop Capital

Best Buy (NYSE:BBY) had its target price decreased by investment analysts at Loop Capital from $85.00 to $82.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the technology retailer’s stock. Loop Capital’s price target would indicate a potential upside of 7.42% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. BNP Paribas Exane raised their price target on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. UBS Group reissued a “neutral” rating and set a $86.00 price target (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Wells Fargo & Company boosted their price objective on Best Buy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Finally, DA Davidson reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.50.

Best Buy Price Performance

Best Buy stock opened at $76.33 on Wednesday. Best Buy has a 12 month low of $55.10 and a 12 month high of $84.99. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The business’s 50 day simple moving average is $66.08 and its 200 day simple moving average is $66.56. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.02 and a beta of 1.30.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. The business had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. Best Buy’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts forecast that Best Buy will post 6.56 EPS for the current year.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 5,100 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $78.00, for a total value of $397,800.00. Following the completion of the sale, the chairman owned 10,849,537 shares in the company, valued at approximately $846,263,886. The trade was a 0.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the sale, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 583,533 shares of company stock valued at $44,584,972 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Best Buy

Several institutional investors have recently modified their holdings of BBY. Huntington National Bank grew its position in Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after buying an additional 139 shares during the period. Krane Funds Advisors LLC raised its stake in shares of Best Buy by 3.0% during the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after purchasing an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in Best Buy by 0.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock valued at $1,114,000 after buying an additional 152 shares during the period. Applied Finance Capital Management LLC boosted its stake in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after buying an additional 157 shares during the period. Finally, International Private Wealth Advisors LLC grew its stake in shares of Best Buy by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy News Roundup

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Jefferies said Best Buy is entering a new growth phase under incoming CEO Jason Bonfig, citing replacement cycles, product innovation, and category complexity as tailwinds for higher industry growth and stronger expansion at BBY. Best Buy seen entering growth phase under incoming CEO, says Jefferies
• Positive Sentiment: DA Davidson reaffirmed its buy rating on Best Buy and raised its price target to $90, signaling meaningful upside from recent trading levels and reinforcing a bullish view on the retailer. Benzinga analyst note
• Positive Sentiment: Best Buy announced that it is the only national retailer offering RGB LED TVs from Samsung, Sony, LG, TCL, and Hisense, highlighting a major new product cycle that could drive store traffic and premium TV sales. Best Buy introduces RGB LED TVs to stores nationwide, ushering new era of home theater
• Neutral Sentiment: Best Buy disclosed that CFO Matt Bilunas will step down on July 31, with CEO Corie Barry handling interim financial oversight while the company searches for a successor. The move adds some near-term uncertainty, but management says the transition is planned and orderly. Best Buy Announces Chief Financial Officer Transition
• Neutral Sentiment: Commentary around Best Buy’s CEO transition and succession planning has kept investor attention on governance, but analysts have largely framed the leadership changes as manageable rather than disruptive. How Investors May Respond To Best Buy (BBY) CFO Transition And Succession Planning Shift

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.