Barnes & Noble Education (NYSE:BNED) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Barnes & Noble Education (NYSE:BNED) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks reports.

Other analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Barnes & Noble Education in a research note on Wednesday, September 9th. Northland Securities set a $18.50 target price on shares of Barnes & Noble Education in a research note on Friday, June 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Barnes & Noble Education in a research note on Monday. Finally, Wall Street Zen cut shares of Barnes & Noble Education from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Barnes & Noble Education presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Barnes & Noble Education Stock Performance

BNED stock opened at $13.42 on Monday. Barnes & Noble Education has a fifty-two week low of $5.90 and a fifty-two week high of $14.75. The company has a quick ratio of 0.64, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $465.24 million, a P/E ratio of 20.97 and a beta of 1.44. The company has a 50-day simple moving average of $11.85 and a 200 day simple moving average of $11.35.

Barnes & Noble Education (NYSE:BNED) last released its earnings results on Tuesday, September 8th. The specialty retailer reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.11. Barnes & Noble Education had a return on equity of 8.77% and a net margin of 1.29%. The firm had revenue of $290.60 million for the quarter, compared to analyst estimates of $306.66 million. Sell-side analysts predict that Barnes & Noble Education will post 0.79 earnings per share for the current fiscal year.

Barnes & Noble Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. Barnes & Noble Education’s dividend payout ratio (DPR) is 50.00%.

Insider Activity

In other news, CAO Gary Luster sold 2,267 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $11.20, for a total transaction of $25,390.40. Following the transaction, the chief accounting officer directly owned 29,667 shares in the company, valued at $332,270.40. The trade was a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Shar sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $11.04, for a total value of $331,200.00. Following the completion of the sale, the chief executive officer owned 325,285 shares in the company, valued at $3,591,146.40. This represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Barnes & Noble Education

A number of large investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in Barnes & Noble Education during the second quarter worth approximately $785,000. Bank of New York Mellon Corp acquired a new position in Barnes & Noble Education during the second quarter worth about $510,000. Bank of America Corp DE lifted its stake in Barnes & Noble Education by 119.6% in the 1st quarter. Bank of America Corp DE now owns 355,943 shares of the specialty retailer’s stock valued at $3,143,000 after purchasing an additional 193,876 shares during the last quarter. Kanen Wealth Management LLC lifted its stake in shares of Barnes & Noble Education by 0.7% in the 1st quarter. Kanen Wealth Management LLC now owns 3,423,782 shares of the specialty retailer’s stock valued at $30,232,000 after acquiring an additional 23,800 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Barnes & Noble Education during the first quarter valued at about $102,000. Institutional investors own 38.51% of the company’s stock.

About Barnes & Noble Education

Barnes & Noble Education, Inc (NYSE: BNED) provides retail and educational-support services to colleges and universities in the United States. Through its campus bookstores and digital platforms, the company supplies course materials, including new, used, rental and digital textbooks, as well as educational technology and related academic resources.

The company also sells general merchandise and campus essentials, such as school supplies, apparel, insignia merchandise, gifts and convenience products.