Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Consensus Recommendation of “Hold” from Analysts

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on 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 research firms have issued reports on BBBY. Wedbush increased their price objective on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Zacks Research raised shares of Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th.

Bed Bath & Beyond Price Performance

Shares of BBBY stock opened at $4.96 on Tuesday. Bed Bath & Beyond has a 1-year low of $4.26 and a 1-year high of $12.65. The company has a market cap of $367.11 million, a price-to-earnings ratio of -5.23 and a beta of 2.85. The stock has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $5.52.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings results on Monday, April 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $248.00 million for the quarter. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%. Analysts anticipate that Bed Bath & Beyond will post -0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bed Bath & Beyond news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the transaction, the director owned 32,474 shares of the company’s stock, valued at $207,184.12. This represents a 23.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Bed Bath & Beyond

Several large investors have recently made changes to their positions in BBBY. Headlands Technologies LLC acquired a new position in Bed Bath & Beyond in the 2nd quarter valued at $33,000. Public Employees Retirement System of Ohio acquired a new stake in Bed Bath & Beyond during the 4th quarter worth $37,000. New York State Common Retirement Fund purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $47,000. Stockman Wealth Management Inc. purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $55,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at about $63,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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.