Bed Bath & Beyond (NASDAQ:BBBY) Lowered to Strong Sell at ValuEngine

Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. Robert W. Baird lowered their price target on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Bank of America set a $20.00 price target on shares of Bed Bath & Beyond and gave the company a “buy” rating in a research report on Thursday, October 10th. Goldman Sachs Group began coverage on shares of Bed Bath & Beyond in a research report on Thursday, July 11th. They set a “sell” rating and a $11.00 price target for the company. Loop Capital lowered their price target on shares of Bed Bath & Beyond from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Telsey Advisory Group raised shares of Bed Bath & Beyond from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 10th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.44.

NASDAQ BBBY traded up $0.70 during trading hours on Tuesday, reaching $13.76. 7,636,513 shares of the company’s stock traded hands, compared to its average volume of 7,358,437. Bed Bath & Beyond has a 52-week low of $7.31 and a 52-week high of $19.57. The firm has a market cap of $1.65 billion, a PE ratio of 6.71, a PEG ratio of 6.53 and a beta of 1.25. The firm has a 50-day simple moving average of $10.72 and a 200 day simple moving average of $12.08. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.46 and a quick ratio of 0.52.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, October 2nd. The retailer reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Bed Bath & Beyond had a negative net margin of 6.36% and a positive return on equity of 10.20%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the company posted $0.36 EPS. Bed Bath & Beyond’s revenue was down 7.3% on a year-over-year basis. Sell-side analysts forecast that Bed Bath & Beyond will post 1.92 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings in Bed Bath & Beyond by 4.5% in the third quarter. Meeder Asset Management Inc. now owns 55,488 shares of the retailer’s stock worth $590,000 after buying an additional 2,397 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Bed Bath & Beyond by 25.9% in the second quarter. Private Advisor Group LLC now owns 16,483 shares of the retailer’s stock worth $192,000 after acquiring an additional 3,396 shares during the period. Swiss National Bank grew its stake in shares of Bed Bath & Beyond by 1.7% in the second quarter. Swiss National Bank now owns 255,800 shares of the retailer’s stock worth $2,972,000 after acquiring an additional 4,200 shares during the period. Thompson Investment Management Inc. grew its stake in shares of Bed Bath & Beyond by 1.6% in the second quarter. Thompson Investment Management Inc. now owns 265,556 shares of the retailer’s stock worth $3,086,000 after acquiring an additional 4,233 shares during the period. Finally, Greenwich Wealth Management LLC grew its stake in shares of Bed Bath & Beyond by 25.5% in the second quarter. Greenwich Wealth Management LLC now owns 25,100 shares of the retailer’s stock worth $292,000 after acquiring an additional 5,100 shares during the period.

About Bed Bath & Beyond

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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