Analysis: Bed Bath & Beyond Inc (NASDAQ:BBBY) Price Target Upgraded Today
In analysts report revealed to clients and investors by Bank of America (Merrill Lynch) on Friday, 11 December, the firm, Bed Bath & Beyond Inc (NASDAQ:BBBY), had their target price lowered to $49.00. Analusts currently have a solid “Underperform” rating on the stock.
From a total of 18 analysts covering Bed Bath & Beyond (NASDAQ:BBBY) stock, 6 rate it a ”Buy”, 4 a “Sell”, and 16 a ”Hold”. This means that 23% of the ratings are positive. The highest target price is $85 while the lowest target price is $53. The mean of all analyst targets is $65.5 with a 25.21% above today’s ($52.87) stock price. Bed Bath & Beyond was the topic of 12 analyst reports since September 21, 2015 according to the firm StockzIntelligence Inc. Cantor Fitzgerald downgraded shares on November 20 to “Hold” rating. TelseyAdvisory Group upgraded shares to “Market Perform” rating and $65 target share price in a report from a September 25. Citigroup maintained BBBY stock in a recent report from September 28 with “Neutral” rating. Telsey Advisory Group upgraded the rating on September 25. Telsey Advisory Group has a “Market Perform” rating and a $65 price target on shares. Finally, Credit Agricole maintained the stock with “Neutral” rating in a report issued on a September 25.
Approximately 1.09 million shares of stock traded hands. Bed Bath & Beyond Inc. (NASDAQ:BBBY) has declined 24.58% since May 8, 2015 and is downtrending. It has underperformed by 21.56% the S&P500.
Analysts await Bed Bath & Beyond Inc. (NASDAQ:BBBY) to reports earnings on January, 14. They expect $1.18 earnings per share, down 0.84% or $0.01 from last year’s $1.19 per share. BBBY’s profit will be $201.76 million for 11.20 P/E if the $1.18 EPS becomes reality. After $1.21 actual earnings per share reported by Bed Bath & Beyond Inc. for the previous quarter, Wall Street now forecasts -2.48% negative EPS growth.
The overall sentiment of institutions has increased to 0.88 in Q2 2015. Its up 0.20, from 0.68 in 2015Q2. The ratio improved, as 68 institutions have sold all the shares of Bed Bath & Beyond Inc. that they owned while 218 funds have taken shares off the table. 47 funds have purchased shares for the first time while 204 added to their positions. These institutions now hold 173.80 million shares or 7.95% more than the 161.00 million shares they owned in 2015Q2.
The Fund Mcdonald Capital Investors Inc Ca currently is holding shares equating to 4% of its total portfolio in Bed Bath & Beyond Inc. representing a total of 653,133 shares. Another fund,Leonard Green Partners Lp, is holding a total of 990,000 shares equating to 3.81% of their holdings. Additionally, Breithorn Capital Management has a 89,445 share stake in Bed Bath & Beyond Inc. which represents 3.63% of their total portfolio. The Fund, Wilsey Asset Management Inc, based out of California, has also built up a stake in the stock, which represents a total of 3.63% of their total portfolio. Finally Sather Financial Group Inc, a fund which is based in the state of Texas reported a total holdings of 143,731 shares.
Bed Bath & Beyond Inc. and subsidiaries is a retailer selling an assortment of domestics merchandise and home furnishings, which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon or Harmon Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. The company has a market cap of $9.04 billion. Customers can purchase products from the Company either in-store, online or through a mobile device. It has 10.23 P/E ratio. In addition, the Company operates Of a Kind, an e-commerce Website that features specially commissioned, limited edition items from emerging fashion and home designers.
According to Zacks Investment Research, “Bed Bath & Beyond is a nationwide operator of superstores selling predominantly better quality domestics merchandise and home furnishings typically found in better department stores. The Company offers a wide assortment of merchandise at everyday low prices that are substantially below regular department store prices and generally comparable to or below department store sale prices. The Company’s domestics merchandise line includes items such as bed linens, bath accessories and kitchen textiles, and the company’s home furnishings line.” Get a free copy of the Zacks research report on Bed Bath & Beyond Inc. (BBBY).