Bed Bath & Beyond (NASDAQ:BBBY) PT Set at $23.00 by Loop Capital

Bed Bath & Beyond (NASDAQ:BBBY) has been assigned a $23.00 target price by equities research analysts at Loop Capital in a research report issued to clients and investors on Thursday, December 21st. The brokerage presently has a “hold” rating on the retailer’s stock. Loop Capital’s target price points to a potential upside of 0.79% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group reaffirmed a “neutral” rating and set a $25.00 price target (down from $33.00) on shares of Bed Bath & Beyond in a research note on Wednesday, September 20th. KeyCorp reaffirmed an “underweight” rating and set a $21.00 price target (down from $27.00) on shares of Bed Bath & Beyond in a research note on Wednesday, September 20th. Barclays reaffirmed an “equal weight” rating and set a $30.00 price target (down from $40.00) on shares of Bed Bath & Beyond in a research note on Wednesday, September 20th. ValuEngine cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. Bed Bath & Beyond presently has an average rating of “Hold” and an average price target of $26.24.

Bed Bath & Beyond (BBBY) opened at $22.82 on Thursday. Bed Bath & Beyond has a twelve month low of $19.07 and a twelve month high of $41.98. The firm has a market cap of $3,249.86, a PE ratio of 6.32, a price-to-earnings-growth ratio of -3.80 and a beta of 1.09. The company has a current ratio of 1.67, a quick ratio of 0.31 and a debt-to-equity ratio of 0.54.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Wednesday, December 20th. The retailer reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Bed Bath & Beyond had a net margin of 4.11% and a return on equity of 19.07%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities research analysts anticipate that Bed Bath & Beyond will post 3 earnings per share for the current fiscal year.

In other Bed Bath & Beyond news, VP Matthew Fiorilli sold 16,957 shares of Bed Bath & Beyond stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $22.62, for a total transaction of $383,567.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in BBBY. Ffcm LLC lifted its position in Bed Bath & Beyond by 2,958.6% during the third quarter. Ffcm LLC now owns 4,435 shares of the retailer’s stock valued at $104,000 after buying an additional 4,290 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Bed Bath & Beyond by 928.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock valued at $117,000 after buying an additional 3,463 shares in the last quarter. Psagot Investment House Ltd. acquired a new position in Bed Bath & Beyond during the third quarter valued at approximately $217,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Bed Bath & Beyond during the third quarter valued at approximately $222,000. Finally, Point View Wealth Management Inc. lifted its position in Bed Bath & Beyond by 55.9% during the second quarter. Point View Wealth Management Inc. now owns 8,020 shares of the retailer’s stock valued at $244,000 after buying an additional 2,876 shares in the last quarter. 94.20% of the stock is currently owned by hedge funds and other institutional investors.

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Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).

Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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