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

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

Several brokerages have commented on BBBY. Weiss Ratings raised Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Wall Street Zen cut shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wedbush increased their price target on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd.

Bed Bath & Beyond Stock Performance

BBBY opened at $4.38 on Friday. Bed Bath & Beyond has a 52-week low of $4.18 and a 52-week high of $12.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.59 and a current ratio of 0.76. The stock has a 50-day moving average of $5.33 and a 200-day moving average of $5.26. The company has a market cap of $417.07 million, a PE ratio of -3.84 and a beta of 2.89.

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

Insider Activity at Bed Bath & Beyond

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

Institutional Trading of Bed Bath & Beyond

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBBY. The Manufacturers Life Insurance Company grew its position in shares of Bed Bath & Beyond by 20.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock worth $140,000 after buying an additional 3,469 shares during the period. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond during the 2nd quarter worth $33,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth about $37,000. Legal & General Group Plc bought a new position in Bed Bath & Beyond in the second quarter valued at approximately $42,000. Finally, Pingora Partners LLC bought a new stake in Bed Bath & Beyond in the 2nd quarter valued at $48,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

About Bed Bath & Beyond

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.