Best Buy (NYSE:BBY) Stock Rating Lowered by Wall Street Zen

Best Buy (NYSE:BBY) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

BBY has been the topic of a number of other reports. Loop Capital boosted their price target on shares of Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. The Goldman Sachs Group reduced their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. BNP Paribas Exane decreased their price target on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Citigroup raised their price target on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, UBS Group boosted their price objective on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.89.

Best Buy Price Performance

Shares of BBY stock opened at $70.61 on Friday. The stock’s fifty day simple moving average is $74.02 and its 200 day simple moving average is $73.68. Best Buy has a one year low of $54.99 and a one year high of $91.68. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 1.79 and a beta of 1.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,534,993 shares of company stock worth $126,626,855 over the last quarter. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. IFM Investors Pty Ltd boosted its stake in shares of Best Buy by 6.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock worth $3,284,000 after acquiring an additional 3,040 shares in the last quarter. CWM LLC raised its holdings in Best Buy by 272.6% during the third quarter. CWM LLC now owns 183,842 shares of the technology retailer’s stock worth $13,902,000 after purchasing an additional 134,508 shares during the last quarter. Conning Inc. boosted its position in Best Buy by 5.4% during the second quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock worth $32,159,000 after purchasing an additional 24,741 shares in the last quarter. Intech Investment Management LLC grew its holdings in Best Buy by 53.6% in the first quarter. Intech Investment Management LLC now owns 26,462 shares of the technology retailer’s stock valued at $1,948,000 after purchasing an additional 9,231 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Best Buy by 23.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 82,431 shares of the technology retailer’s stock valued at $5,534,000 after purchasing an additional 15,738 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

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.