Brokerages Set Bed Bath & Beyond, Inc. (NYSE:BBBY) Price Target at $10.20

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.20.

Several research analysts have weighed in on BBBY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a research report on Wednesday, January 21st. Barclays set a $8.00 target price on shares of Bed Bath & Beyond and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Bed Bath & Beyond in a research report on Tuesday, October 21st.

Bed Bath & Beyond Price Performance

Bed Bath & Beyond stock opened at $5.92 on Tuesday. The firm has a 50-day moving average of $6.26 and a 200-day moving average of $7.95. The company has a market cap of $407.65 million, a price-to-earnings ratio of -2.11 and a beta of 2.85. Bed Bath & Beyond has a one year low of $3.54 and a one year high of $12.65.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of institutional investors have recently bought and sold shares of the business. Able Wealth Management LLC acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $4,612,000. Balyasny Asset Management L.P. bought a new stake in Bed Bath & Beyond in the 2nd quarter valued at $3,414,000. Geode Capital Management LLC lifted its holdings in Bed Bath & Beyond by 20.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company’s stock valued at $8,543,000 after purchasing an additional 211,446 shares during the last quarter. Bank of America Corp DE boosted its position in Bed Bath & Beyond by 587.3% during the second quarter. Bank of America Corp DE now owns 236,529 shares of the company’s stock worth $1,627,000 after purchasing an additional 202,113 shares during the period. Finally, Fund 1 Investments LLC bought a new position in Bed Bath & Beyond during the second quarter worth $1,184,000. 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.