Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) gapped down prior to trading on Wednesday after Wedbush lowered their price target on the stock from $14.00 to $7.00. The stock had previously closed at $6.70, but opened at $6.30. Wedbush currently has a neutral rating on the stock. Bed Bath & Beyond shares last traded at $6.76, with a volume of 65,817 shares traded.
Several other research analysts also recently weighed in on the stock. KeyCorp dropped their target price on shares of Bed Bath & Beyond from $10.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, June 13th. Telsey Advisory Group dropped their target price on shares of Bed Bath & Beyond from $15.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 8th. UBS Group dropped their target price on shares of Bed Bath & Beyond from $12.00 to $5.00 in a research report on Wednesday. Finally, StockNews.com started coverage on shares of Bed Bath & Beyond in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Nine investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $10.08.
A number of hedge funds and other institutional investors have recently bought and sold shares of BBBY. Captrust Financial Advisors raised its stake in Bed Bath & Beyond by 7.5% during the 3rd quarter. Captrust Financial Advisors now owns 7,965 shares of the retailer’s stock valued at $138,000 after purchasing an additional 554 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Bed Bath & Beyond by 2.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,706 shares of the retailer’s stock valued at $331,000 after purchasing an additional 645 shares during the last quarter. Eaton Vance Management raised its stake in Bed Bath & Beyond by 2.9% during the 4th quarter. Eaton Vance Management now owns 27,118 shares of the retailer’s stock valued at $338,000 after purchasing an additional 768 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bed Bath & Beyond by 7.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,431 shares of the retailer’s stock valued at $303,000 after purchasing an additional 986 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Bed Bath & Beyond by 16.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,652 shares of the retailer’s stock valued at $172,000 after buying an additional 1,109 shares during the period.
The stock has a market cap of $540.06 million, a P/E ratio of -1.16 and a beta of 1.81. The company has a current ratio of 1.14, a quick ratio of 0.31 and a debt-to-equity ratio of 6.77. The company’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $15.18.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its quarterly earnings results on Wednesday, April 13th. The retailer reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.94). The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. Bed Bath & Beyond had a negative net margin of 7.11% and a negative return on equity of 14.09%. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. As a group, analysts expect that Bed Bath & Beyond Inc. will post -2.47 earnings per share for the current fiscal year.
About Bed Bath & Beyond (NASDAQ:BBBY)
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.