Bed Bath & Beyond (NASDAQ:BBBY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Bed Bath & Beyond topped the sector in the past month driven by solid surprise trend, marking third consecutive earnings and sales beat in first-quarter fiscal 2018. Further, strong performance at its customer-facing digital networks and progress in transformation plan drive optimism. It is also on track with its three-year financial goals of achieving comps growth from fiscal 2018; moderating declines in operating profit and earnings per share in fiscal 2018 and 2019; and improving earnings per share by fiscal 2020. However, the company's bleak earnings outlook for fiscal 2018 is a concern. It is witnessing soft comps for a while now due to decline in stores transactions. Its eight-quarter long trend of strained margins due to higher shipping and coupon, as well as SG&A expenses also remains a headwind. Investments in customer value proposition and constant shift to digital channels are likely to hurt gross margin in fiscal 2018.”

Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Credit Suisse Group set a $20.00 price objective on shares of Bed Bath & Beyond and gave the company a “hold” rating in a research report on Friday, June 29th. Wedbush set a $18.00 price objective on shares of Bed Bath & Beyond and gave the company a “hold” rating in a research report on Thursday, September 13th. Standpoint Research cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Raymond James upgraded shares of Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a research report on Monday. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a strong buy rating to the stock. Bed Bath & Beyond has a consensus rating of “Hold” and a consensus target price of $19.71.

Shares of NASDAQ:BBBY opened at $19.13 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond has a 1-year low of $16.52 and a 1-year high of $24.74. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 6.35 and a beta of 0.96.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, June 27th. The retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Bed Bath & Beyond had a net margin of 3.18% and a return on equity of 14.73%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. equities research analysts predict that Bed Bath & Beyond will post 2.33 EPS for the current fiscal year.

In related news, insider Eugene A. Castagna sold 25,000 shares of the business’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $20.81, for a total value of $520,250.00. Following the sale, the insider now owns 124,255 shares in the company, valued at $2,585,746.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BBBY. Point72 Asia Hong Kong Ltd bought a new stake in Bed Bath & Beyond in the first quarter worth $109,000. Signaturefd LLC increased its position in Bed Bath & Beyond by 124.8% in the second quarter. Signaturefd LLC now owns 5,930 shares of the retailer’s stock worth $118,000 after purchasing an additional 3,292 shares during the last quarter. Trilogy Capital Inc. bought a new stake in Bed Bath & Beyond in the first quarter worth $127,000. Asset Management One Co. Ltd. increased its position in Bed Bath & Beyond by 143.9% in the first quarter. Asset Management One Co. Ltd. now owns 8,440 shares of the retailer’s stock worth $177,000 after purchasing an additional 4,980 shares during the last quarter. Finally, Ardsley Advisory Partners bought a new stake in Bed Bath & Beyond in the second quarter worth $199,000. Institutional investors own 93.18% 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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