Barnes & Noble Education Inc. (BNED) Stock Rating Upgraded by Zacks Investment Research

Barnes & Noble Education Inc. (NYSE:BNED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $11.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 18.28% from the stock’s previous close.

According to Zacks, “Barnes & Noble Education, Inc. is engaged in creating and operating campus bookstores for academic institutions under multi-year management service agreements. The Company’s products and services include Textbook and Course Material Sales, Textbook and Course Material Rentals, General Merchandise, Trade, Digital Education Platform, e-commerce Platform, FacultyEnlight, Campus Connect Technologies platform and Flexible Course Fee Solution. It operates primarily in the United States. Barnes & Noble Education, Inc. is based in Basking Ridge, United States. “

Separately, BWS Financial initiated coverage on Barnes & Noble Education in a research note on Tuesday, October 11th. They set a “strong-buy” rating and a $14.00 target price for the company.

Shares of Barnes & Noble Education (NYSE:BNED) opened at 9.30 on Monday. Barnes & Noble Education has a 52 week low of $8.15 and a 52 week high of $15.49. The firm’s market capitalization is $428.47 million. The stock has a 50 day moving average of $10.00 and a 200-day moving average of $10.20.

Barnes & Noble Education (NYSE:BNED) last posted its earnings results on Thursday, September 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by $0.02. Barnes & Noble Education had a positive return on equity of 2.22% and a negative net margin of 0.05%. The business had revenue of $239.20 million for the quarter, compared to the consensus estimate of $245.58 million. During the same period in the previous year, the company posted ($0.65) earnings per share. Barnes & Noble Education’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts anticipate that Barnes & Noble Education will post $0.44 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of BNED. Dimensional Fund Advisors LP boosted its position in shares of Barnes & Noble Education by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,890,408 shares of the company’s stock valued at $39,487,000 after buying an additional 32,818 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Barnes & Noble Education by 6.2% in the second quarter. Vanguard Group Inc. now owns 2,905,342 shares of the company’s stock valued at $29,490,000 after buying an additional 170,832 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Barnes & Noble Education by 15.5% in the second quarter. BlackRock Fund Advisors now owns 2,654,588 shares of the company’s stock valued at $26,944,000 after buying an additional 355,727 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Barnes & Noble Education by 6.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 986,068 shares of the company’s stock valued at $10,009,000 after buying an additional 58,531 shares in the last quarter. Finally, William Harris Investors Inc. boosted its position in shares of Barnes & Noble Education by 2.2% in the second quarter. William Harris Investors Inc. now owns 697,397 shares of the company’s stock valued at $7,079,000 after buying an additional 15,209 shares in the last quarter. 66.66% of the stock is owned by institutional investors.

About Barnes & Noble Education

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

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