Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Average Rating of “Hold” from Brokerages

Bed Bath & Beyond, Inc. (NYSE:BBBY) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.40.

Several equities analysts have recently issued reports on the company. Wedbush lowered their price target on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. Finally, Piper Sandler set a $8.00 price target on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a report on Tuesday.

Bed Bath & Beyond Trading Up 4.5%

Bed Bath & Beyond stock opened at $5.75 on Friday. Bed Bath & Beyond has a 52 week low of $3.54 and a 52 week high of $12.65. The stock has a market cap of $395.60 million, a price-to-earnings ratio of -3.96 and a beta of 2.99. The company’s 50-day moving average price is $5.97 and its two-hundred day moving average price is $7.47.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. Bed Bath & Beyond had a negative net margin of 8.10% and a negative return on equity of 33.44%. The company had revenue of $273.43 million during the quarter. Research analysts expect that Bed Bath & Beyond will post -3.75 earnings per share for the current fiscal year.

Institutional Trading of Bed Bath & Beyond

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Bed Bath & Beyond in the fourth quarter valued at $221,000. Invesco Ltd. acquired a new position in shares of Bed Bath & Beyond in the 4th quarter worth $296,000. XTX Topco Ltd acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $112,000. nVerses Capital LLC purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter valued at $70,000. Finally, Polymer Capital Management US LLC acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $422,000. 76.30% of the stock is currently owned by 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.