Best Buy (NYSE:BBY) Price Target Lowered to $89.00 at Jefferies Financial Group

Best Buy (NYSE:BBY) had its price objective dropped by investment analysts at Jefferies Financial Group from $94.00 to $89.00 in a report released on Monday,MarketScreener reports. The firm currently has a “buy” rating on the technology retailer’s stock. Jefferies Financial Group’s target price suggests a potential upside of 30.86% from the company’s previous close.

BBY has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Evercore reduced their price objective on Best Buy from $80.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, February 3rd. Truist Financial dropped their target price on Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Friday, January 16th. Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Wednesday, November 26th. Finally, Barclays dropped their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $80.80.

Best Buy Trading Down 3.4%

NYSE BBY opened at $68.01 on Monday. The firm’s 50 day moving average price is $69.67 and its two-hundred day moving average price is $73.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. Best Buy has a twelve month low of $54.99 and a twelve month high of $91.68. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.68 and a beta of 1.44.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Best Buy’s quarterly revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities analysts anticipate that Best Buy will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sage Private Wealth Group LLC grew its holdings in Best Buy by 3.1% in the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after buying an additional 123 shares during the last quarter. LVW Advisors LLC grew its stake in shares of Best Buy by 3.9% in the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after acquiring an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 138 shares during the period. Huntington National Bank raised its stake in Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Best Buy by 1.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.