Bed Bath & Beyond (NYSE:BBBY) Stock Rating Upgraded by Zacks Research

Bed Bath & Beyond (NYSE:BBBY) was upgraded by research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on BBBY. Piper Sandler set a $8.00 target price on Bed Bath & Beyond and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings lowered shares of Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Wedbush raised their price objective on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bed Bath & Beyond currently has a consensus rating of “Hold” and a consensus target price of $8.67.

Bed Bath & Beyond Price Performance

BBBY stock opened at $6.33 on Wednesday. The business has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $5.59. The firm has a market capitalization of $468.10 million, a PE ratio of -6.66 and a beta of 2.86. Bed Bath & Beyond has a 1 year low of $4.26 and a 1 year high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last announced its quarterly earnings data on Monday, April 27th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $248.00 million for the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%. On average, equities research analysts expect that Bed Bath & Beyond will post -0.79 EPS for the current year.

Insider Activity at Bed Bath & Beyond

In related news, Director Joanna M. Burkey sold 9,943 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the sale, the director owned 32,474 shares in the company, valued at $207,184.12. This represents a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Bed Bath & Beyond in the 4th quarter valued at about $12,594,000. Geode Capital Management LLC purchased a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at about $8,890,000. State Street Corp acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $7,175,000. Federated Hermes Inc. acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $4,730,000. Finally, Able Wealth Management LLC purchased a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $4,612,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Bed Bath & Beyond Company Profile

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.