Bed Bath & Beyond (NYSE:BBBY) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Bed Bath & Beyond (NYSE:BBBY) in a research report report published on Tuesday,RTT News reports. They currently have a $13.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $8.86.

Bed Bath & Beyond Trading Down 1.6%

NYSE:BBBY opened at $8.40 on Tuesday. Bed Bath & Beyond has a 12 month low of $3.54 and a 12 month high of $12.65. The company has a market cap of $578.02 million, a PE ratio of -2.06 and a beta of 2.76. The company has a 50 day simple moving average of $9.55 and a two-hundred day simple moving average of $7.50.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.15. The business had revenue of $282.25 million for the quarter, compared to analysts’ expectations of $250.37 million. Bed Bath & Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The company’s revenue was down 29.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.76) EPS. Research analysts forecast that Bed Bath & Beyond will post -3.75 earnings per share for the current year.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its stake in Bed Bath & Beyond by 25.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock worth $39,000 after acquiring an additional 1,133 shares in the last quarter. Haven Private LLC grew its stake in Bed Bath & Beyond by 10.8% in the 2nd quarter. Haven Private LLC now owns 13,620 shares of the company’s stock worth $94,000 after acquiring an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Bed Bath & Beyond by 85.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock worth $25,000 after acquiring an additional 1,669 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Bed Bath & Beyond by 33.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock worth $51,000 after acquiring an additional 1,828 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in Bed Bath & Beyond by 21.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company’s stock worth $108,000 after acquiring an additional 3,304 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors.

About Bed Bath & Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.