Bed Bath & Beyond (BBBY) Lowered to Sell at BidaskClub

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Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, BidAskClub reports.

BBBY has been the subject of several other reports. Morgan Stanley upgraded Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $13.00 to $20.00 in a research note on Friday, April 5th. Zacks Investment Research lowered Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Bank of America upgraded Bed Bath & Beyond from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $21.00 in a research note on Tuesday, March 26th. Barclays lowered Bed Bath & Beyond from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $15.00 to $13.00 in a research note on Monday, March 4th. Finally, Loop Capital lowered Bed Bath & Beyond from a “hold” rating to a “sell” rating and cut their price objective for the stock from $13.00 to $12.00 in a research note on Monday, February 11th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Bed Bath & Beyond presently has an average rating of “Hold” and an average target price of $17.61.

NASDAQ:BBBY traded down $0.52 during trading hours on Monday, hitting $14.49. 4,408,640 shares of the stock were exchanged, compared to its average volume of 7,397,002. Bed Bath & Beyond has a 52-week low of $10.46 and a 52-week high of $21.44. The company has a current ratio of 1.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.97 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 7.59 and a beta of 1.14.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, April 10th. The retailer reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Bed Bath & Beyond had a positive return on equity of 9.77% and a negative net margin of 1.14%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the business earned $1.48 EPS. On average, research analysts forecast that Bed Bath & Beyond will post 1.98 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Bed Bath & Beyond by 3.5% during the 1st quarter. BlackRock Inc. now owns 17,001,610 shares of the retailer’s stock worth $288,858,000 after purchasing an additional 574,944 shares during the last quarter. FMR LLC boosted its holdings in shares of Bed Bath & Beyond by 1.8% during the 4th quarter. FMR LLC now owns 14,716,001 shares of the retailer’s stock worth $166,586,000 after purchasing an additional 264,950 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Bed Bath & Beyond by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,346,235 shares of the retailer’s stock worth $185,193,000 after purchasing an additional 138,648 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bed Bath & Beyond by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,580,734 shares of the retailer’s stock worth $196,759,000 after purchasing an additional 321,261 shares during the last quarter. Finally, Contrarius Investment Management Ltd boosted its holdings in shares of Bed Bath & Beyond by 32.9% during the 4th quarter. Contrarius Investment Management Ltd now owns 9,207,291 shares of the retailer’s stock worth $104,227,000 after purchasing an additional 2,276,723 shares during the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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