Bed Bath & Beyond (BBBY) received a “outperform” reiteration today from securities research analysts at investment firm Wedbush, and also a “buy” rating reiteration at Argus. Wedbush raised their performance outlook of BBBY from $63 to $67, and Argus adjusted their outlook from $60 to $63, respectively. Argus noted that after the Bed Bath & Beyond reported earnings that sales and operating margin exceeded their own estimates. Wedbush noted that the company is positioned to use industry consolidation to its advantage.
BBBY volatility was high during the regular session with volume being one of the top 3 of the past year. Shares gapped up during the regular market open and did not retrace and recover the gap. Instead, shares of BBBY proceeded to make commendable gains all the way through intraday trading until the market close. Essentially, a strong close for Bed Bath & Beyond.
Bed Bath & Beyond is slated to release their next earnings report on September 21st, 2011, and is estimated to post EPS of 82 cents. Their last earnings report was released on June 22nd, 2011, and announced EPS of 72 cents with revenue totaling $2.11 billion which was up 9.7 % year to year. BBBY is currently trading above its 50 & 200-day moving averages and 2011 is currently an up year for the company.
Bed Bath & Beyond Inc. is a chain of retail stores, operating under the names Bed Bath & Beyond (“BBB”), Christmas Tree Shops (“CTS”), Harmon and Harmon Face Values (“Harmon”) and buybuy BABY. The company has market capitalization of $14,182,857,040 and 249,128,000 shares outstanding. BBBY has a 52-week high of $57.90 with the low being $35.55 dollars.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.