Brokerages Set Bed Bath & Beyond, Inc. (NYSE:BBBY) PT at $8.67

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.6667.

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Wedbush upped their price target 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, June 23rd.

Institutional Investors Weigh In On Bed Bath & Beyond

Several hedge funds have recently modified their holdings of BBBY. Dimensional Fund Advisors LP lifted its position in shares of Bed Bath & Beyond by 49.4% during the first quarter. Dimensional Fund Advisors LP now owns 905,712 shares of the company’s stock worth $4,201,000 after purchasing an additional 299,391 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Bed Bath & Beyond by 900.0% in the first quarter. Gryphon Financial Partners LLC now owns 270,709 shares of the company’s stock valued at $1,256,000 after purchasing an additional 243,639 shares during the period. Renaissance Technologies LLC grew its holdings in Bed Bath & Beyond by 95.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,041,100 shares of the company’s stock valued at $4,831,000 after purchasing an additional 507,922 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Bed Bath & Beyond during the 4th quarter valued at $920,000. Finally, Corient Private Wealth LP purchased a new stake in Bed Bath & Beyond during the 2nd quarter worth $892,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

Bed Bath & Beyond Trading Up 0.6%

Shares of BBBY opened at $4.38 on Wednesday. Bed Bath & Beyond has a twelve month low of $4.18 and a twelve month high of $12.65. The firm has a market capitalization of $417.07 million, a P/E ratio of -3.84 and a beta of 2.89. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $4.76 and its 200 day simple moving average is $5.14.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). Bed Bath & Beyond had a negative net margin of 7.13% and a negative return on equity of 37.60%. The firm had revenue of $361.16 million for the quarter. During the same period in the previous year, the business posted ($0.34) earnings per share. On average, equities research analysts forecast that Bed Bath & Beyond will post -0.92 earnings per share for the current year.

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.