Best Buy Co Inc (NYSE:BBY) has been given a consensus recommendation of “Hold” by the twenty-three research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $62.56.

Several research analysts recently weighed in on the stock. Oppenheimer restated a “hold” rating on shares of Best Buy in a research report on Thursday, November 16th. Zacks Investment Research downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Barclays restated a “buy” rating and set a $85.00 price target (up previously from $80.00) on shares of Best Buy in a research report on Tuesday, January 30th. Telsey Advisory Group downgraded shares of Best Buy from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $62.00 to $81.00 in a report on Thursday, January 25th. They noted that the move was a valuation call. Finally, Loop Capital set a $72.00 price objective on shares of Best Buy and gave the company a “buy” rating in a report on Tuesday, October 24th.

Best Buy (NYSE:BBY) traded down $1.86 on Tuesday, hitting $71.24. 5,011,746 shares of the company traded hands, compared to its average volume of 3,100,000. Best Buy has a 52-week low of $41.67 and a 52-week high of $78.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. The firm has a market cap of $20,830.00, a P/E ratio of 18.04, a PEG ratio of 1.15 and a beta of 1.11.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. sell-side analysts expect that Best Buy will post 4.04 earnings per share for the current year.

In other news, major shareholder Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total transaction of $58,800,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Richard M. Schulze sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $66.83, for a total transaction of $16,707,500.00. Following the sale, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $115,782,975. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,134,253 shares of company stock valued at $191,063,125. 1.21% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Viking Fund Management LLC increased its holdings in shares of Best Buy by 66.7% during the 3rd quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock worth $570,000 after buying an additional 4,000 shares during the last quarter. Dana Investment Advisors Inc. acquired a new stake in shares of Best Buy during the 3rd quarter worth approximately $9,482,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Best Buy by 5.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 48,397 shares of the technology retailer’s stock worth $2,756,000 after buying an additional 2,390 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Best Buy during the 3rd quarter worth approximately $740,000. Finally, Unison Advisors LLC acquired a new stake in shares of Best Buy during the 4th quarter worth approximately $1,420,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

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About Best Buy

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Analyst Recommendations for Best Buy (NYSE:BBY)

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